As you progress through the tutorial, the question sequences will become available. You must complete all the question sequences to receive credit for this tutorial.
Tutorial
Econ Tutorial
Perfect Competition
As you progress through the tutorial, the question sequences will become available. You must complete all the question sequences to receive credit for this tutorial.
You have completed 0 question sequences out of 4.
Question 1 of 2
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Given the data above, what is the marginal revenue of another unit sold between 10 and 20 units of output?
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Given the data above, what is the price of this good?
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Given the data above, what is the profit of this good at 40 units of output?
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Given the data above, what is the quantity that yields the highest profit among the choices below?
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Question 1 of 1
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If, at the current output level the total revenue is $1,000, the variable cost is $800 and the fixed cost is $300, should the firm shut down immediately or not?
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Which of the graphs above shows the correct area of profit for this profit-maximizing perfectly competitive firm when the price is $5?
