A farm sells peaches in a perfectly competitive market at a price of $1.95 per kilogram. What is the farm's marginal revenue?

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A farm sells peaches in a perfectly competitive
market at a price of $1.95 per kilogram. What is the
farm's marginal revenue?
It is equal to $0.
It is equal to $1.95.
It is greater than $1.95.
It is less than $1.95 but greater than $0.
Transcribed Image Text:A farm sells peaches in a perfectly competitive market at a price of $1.95 per kilogram. What is the farm's marginal revenue? It is equal to $0. It is equal to $1.95. It is greater than $1.95. It is less than $1.95 but greater than $0.
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