M/c question - Micro 23) When a firm in a competitive market receives $5000 in total revenue, it has a marginal revenue of $100. What is the average revenue, and how many units were sold?  A. $100 and 100 units  B. $100 and 50 units  C. $50 and 50 units  D. $50 and 100 units

1.- A company that works in a perfectly competitive market has a total cost function: TC = Q3 - 36Q2 + 540Q + 600 The supply and demand functions in that market are: QS = 5P -500 Qd = 4,000 -10P a) How much should you produce to maximize your profits? b) Find what benefit you will get c) Calculate the closing point for the company d) Represent graphically the market equilibrium and that of the company, including the closing point e) Locate the rectangle that represents profits on the company's equilibrium graph. Calculate your área considering the values ​​taken by the base and the height. Validate that it reaches the same result (or very close) to the one obtained in part b).

Note:hand written solution should be avoided.

The economic profit of a perfectly competitive firm is less than its total revenue equals its total revenue is greater than its total revenue O is less than its total revenue if its supply curve is inelastic and is greater than its total revenue if its supply curve is elastic. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate.