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10-06-2017
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John is a producer in a perfectly competitive market structure. Identify the point where he will set his output.

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cattvondeetz cattvondeetz

23-03-2018

Marginal Revenue is the answer

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10-09-2018

ANSWER: Marginal Revenue

EXPLANATION: Marginal Revenue is the revenue gained by producing one additional unit of a product or service. It is also said as the revenue generated by the last unit of product or service that the firm has sold. So, he should set his output at the Marginal Revenue point where he could see the revenue of every single unit of his sales.

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