Marginal Revenue - Competitive Firms
If a firm under imperfect competition could find buyers for 9 units at a price of $5 (no excess quantity demanded), and if the marginal revenue due to the tenth unit were $2, the highest price at which a firm could find buyers for 10 units must be:
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Solution Summary
The expert examines marginal revenues and competitive firms. The solution answers the question(s) below.
$2.19