nschestnut2444 nschestnut2444

20-07-2022
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A firm, in a perfectly competitive market, produces and sells child car seats. The sales price is $600, the fixed cost are $3,000 and the variable cost are $300 per unit. What is the marginal revenue for the 10th seat sold

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onyebuchinnaji onyebuchinnaji

27-07-2022

The marginal revenue for the 10th seat sold is $600.

What is marginal revenue?

This is the increase in revenue that results from the sale of one additional unit of output.

In a perfectly competitive market, price, average revenue and marginal revenue are the same at each level of output.

P = AR = MR

For this given question, P = AR = MR = $600

Thus, the marginal revenue for the 10th seat sold is $600.

Learn more about marginal revenue here: https://brainly.com/question/13444663

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