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Farmer Jones grows orange in Florida

Economics

Farmer Jones grows orange in Florida. Suppose the market for oranges is perfectly competitive and that the market price for a crate of oranges is $18 per crate.

Fill in total revenue, average revenue, and marginal revenue in the table below.

Crates of Oranges Market Price (per crate) Total Revenue (TR) Average Revenue (AR) Marginal Revenue (MR)
0 $18      
1 18      
2 18      
3 18      
4 18      
5 18

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