Question: Consider the following demand schedule (given below). Does it apply to a perfectly competitive firm? Compute marginal and average revenue.
a. suppose the marginal cost of producing the good in the above question is constant $10 per unit of output. What quantity of output will the firm produce?
| Price |
Qty Supplied |
Qty Demanded |
| $20 |
30 |
0 |
| $18 |
25 |
5 |
| $16 |
20 |
10 |
| $14 |
15 |
15 |
| $12 |
10 |
20 |
| $10 |
5 |
25 |
| $8 |
0 |
30 |