A perfectly competitive firm faces the market price Rs 20 per unit. Derive its TR and MR schedule for the range of output from 1-10.l
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Output (Units) 1 2 3 4 5 6 7 8 9 10
Price (Rs.) 20 20 20 20 20 20 20 20 20 20
Total Revenue (Rs.) 20 40 60 80 100 120 140 160 180 200
If the firm decides to suspend its production for the time being, the market price will not change. Because the supply of a single seller cannot influence the market supply in a perfectly competitive market.
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