Question

In a perfectly competitive market, if a company reduces output from eleven units to ten units and the market price is twenty dollars, then TR for ten units is:

Answer 1

In getting the total revenue, you need to sum the total revenue for each product. But in this problem, we just need to find the total revenue of the ten units.

Given

10 units of output and $20 price in the market

TR = 10 x $20
= $200

So the answer is $200.00 for ten units of output release in the market.