Homework Answers
Answer
TR=P*Q
TR(0)=0*10=0
TR(1)=1*10=10
TR(2)=2*10=20
TR(3)=3*10=30
TR(4)=4*10=40
TR(5)=5*10=50
and in a perfectly competitive firm, the price is equal to the AR and MR as the firm is a price taker.
MR=AR=P =10
the prices are the same at all level of output and also the MR and AR is the same at all level of output
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