5 A A business firm owned by Mike Pence in a perfectly competitive market is currently producing 18 units of output and earns marginal revenues of $25 from each extra unit of output it sells. If Mike Pence's firm sells 24 units, then its total revenues would be

5 A A business firm owned by Mike Pence in a perfectly competitive market is currently producing 18 units of output and earns marginal revenues of $25 from each extra unit of output it sells. If Mike Pence's firm sells 24 units, then its total revenues would be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

5
00:55:38
Mc
Graw
Hill
A business firm owned by Mike Pence in a perfectly competitive market is currently producing 18 units of output and earns
marginal revenues of $25 from each extra unit of output it sells. If Mike Pence's firm sells 24 units, then its total revenues
would be
Multiple Choice
$450.
$1,100.
$150.
$600.
indeterminate based on the information given.
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