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Title: A certain competitive firm sells its output for $20 per unit. The 50th unit of output that the firm produces has a margi

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Q:

A certain competitive firm sells its output for $20 per unit. The 50th unit of output that the firm produces has a marginal cost of $22. It follows that the production of the 50th unit of output

           a.   increases the firm’s total revenue by $20.

           b.   increases the firm’s total cost by $22.

           c.    decreases the firm’s profit by $2.

           d.   All of the above are correct.


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Title: A certain competitive firm sells its output for $20 per unit. The 50th unit of output that the firm produces has a margi

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    • Posted Date: Apr 28, 2012 at 9:26:07 PM

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A:
...sp;        a.   increases the firm’s total revenue by $20. &nbs...
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