Compute marginal and average revenue of the firm

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Reference no: EM13244979

Consider the following demand schedule. Does it apply to a perfectly competitive firm? Compute marginal and average revenue.

Price Quantity Price Quantity
$100 1 $70 5
$ 95 2 $55 6
$ 88 3 $40 7
$ 80 4 $22 8

a)Suppose the marginal cost of producing the good in is a constant $10 per unit of output. What quantity of output will the firm produce?

Reference no: EM13244979

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