Homework answers / question archive / Suppose that a firm in a competitive market faces the following prices and costs:   Price Quantity Total Cost $6 0 $4 $6 1 $6 $6 2 $9 $6 3 $13 $6 4 $18 $6 5 $24 $6 6 $31 The marginal revenue from producing the 5th unit equals: i) $6 ii) the price iii) the marginal cost

Suppose that a firm in a competitive market faces the following prices and costs:   Price Quantity Total Cost $6 0 $4 $6 1 $6 $6 2 $9 $6 3 $13 $6 4 $18 $6 5 $24 $6 6 $31 The marginal revenue from producing the 5th unit equals: i) $6 ii) the price iii) the marginal cost

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Suppose that a firm in a competitive market faces the following prices and costs:

The marginal revenue from producing the 5th unit equals:

i) $6

ii) the price

iii) the marginal cost.

a. (i) only

b. (i) and (ii) only

c. (iii) only

d. (i), (ii), and (iii)