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| *Vultures Knob>>>Scooter Parts |
This is a question on my economics homework, and I am not completely sure on the answer.? |
There is a market for scooters. In a perfectly competitive market, the price of a scooter is $70. A firm marginal cost and average total cost curves intersect at $60 per scooter for six scooters per day. I am not sure if that second part of the sentence is relevant, however, here is the question: What is the firm's total revenue per day? Any help is much appreciated. $60 in this situation is the key price that the market wants to sell the scooters at. Therefore, since 6 scooters are sold per day at $60 the total revenue is $360, |
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