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Suppose a firm in a competitive market earned $3,000 in total revenue and had a marginal revenue of $30 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold

Respuesta :

jepessoa

Answer:

100 units were sold at $30 per unit

Explanation:

theoretically, in a perfect competition market, the price of a good = marginal revenue = marginal cost. Also, the market sets the price, not the individual firm.

If total revenue = $3,000 and marginal revenue per unit = $30, then we can assume that the sales price of each unit was $30, therefore, they sold $3,000 / $30 = 100 units.

abiolataiwo2015

The average revenue per unit, and how many units were sold is $30 and 100 units.

Based on the information given the average revenue per units is the marginal revenue of the amount of $30.

The number of units sold is calculated as:

Number of units sold= Total revenue/Marginal revenue

Number of units sold= 3000/30

Number of units sold= 100 units

Inconclusion the average revenue per unit, and how many units were sold is $30 and 100 units.

Learn more here:https://brainly.com/question/11306130

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