Ask Question
27 November, 10:30

Consider a perfectly competitive market described by the supply function P = 20 + 0.1Q and demand function P = 80 - 0.3Q. If the market is in equilibrium, then an individual firms total revenue (TR), average revenue (AR) and marginal revenue (MR) functions are:

+3
Answers (1)
  1. 27 November, 10:45
    0
    If we consider a perfectly competitive market described by the supply function P = 20 + 0.1Q and demand function P = 80 - 0.3Q. the answer would be P = $65 and Q = 150
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Consider a perfectly competitive market described by the supply function P = 20 + 0.1Q and demand function P = 80 - 0.3Q. If the market is ...” in 📗 Social Studies if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers