The table below shows the total revenue schedule of a farmer who produces maizze. Use the informatiom in the table to answer the qeston that follows; Output...

Question 1 Report

The table below shows the total revenue schedule of a farmer who produces maizze. Use the informatiom in the table to answer the qeston that follows;

Output (in bags) Total Revenue ($)
0 0
1 6
2 12
3 18
4 24
5 30
6 36

 

(a) At each level of output, calculate the farmer's marginal revenue (MR).

(b) What is the price of a bag of maize? Explain your answer.

(c) In what market structure is the farmer operating? Give a reason for your answer.

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