A strawberry farmer, operating ih a perfectly competitive market, is currently producing 99 packs of strawberries. The market price for a pack of strawberries is $6 a pack. The marginal cost of...


A strawberry farmer, operating ih a perfectly<br>competitive market, is currently producing<br>99 packs of strawberries. The market price<br>for a pack of strawberries is $6 a pack. The<br>marginal cost of producing one more pack<br>for the farmer is $5. What is the marginal<br>revenue the farmer will receive from<br>producing his 100th pack of strawberries?<br>(Hint: If you aren't sure what marginal<br>revenue means, look it up before choosing<br>an answer)<br>O $0.06<br>O $6<br>O $1<br>O $100<br>

Extracted text: A strawberry farmer, operating ih a perfectly competitive market, is currently producing 99 packs of strawberries. The market price for a pack of strawberries is $6 a pack. The marginal cost of producing one more pack for the farmer is $5. What is the marginal revenue the farmer will receive from producing his 100th pack of strawberries? (Hint: If you aren't sure what marginal revenue means, look it up before choosing an answer) O $0.06 O $6 O $1 O $100

Jun 10, 2022
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