Asked by josely miranda on Jul 26, 2024
Verified
When a certain competitive firm produces and sells 40 units of output, its total revenue is $740. If there is no change in price, then what is the amount of the firm's total revenue if it produces and sells 45 units of output?
Total Revenue
The overall income obtained by an enterprise from its sales or services within a designated period.
- Analyze financial gains or shortfalls by studying total revenue, average revenue, and marginal revenue.
Verified Answer
DH
Darlene HoffmanJul 27, 2024
Final Answer :
At 45 units of output the firm's total revenue amounts to ($18.50)(45) = $832.50.
Learning Objectives
- Analyze financial gains or shortfalls by studying total revenue, average revenue, and marginal revenue.