Marginal revenue and marginal cost in imperfect competition
3:41
Khan Academy
Marginal revenue and marginal cost in imperfect competition
This video discusses the differences in a graph of marginal cost and marginal revenue for an imperfectly competitive firm compared to a perfectly competitive firm.
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The following table shows cost data for a perfectly competitive firm.OutputAverageAverageAverage TotalMarginalFixed CostVariable CostCostCost13001004001002150752255031007017060475731488256080140108650901401407431031461828381191572349331381712831030160190361If the product price is 283, the per-unit economic profit at the profit-maximizing output isMultiple Choice0.76.112.152
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