1)Let's find profit maximizing point for perfect competition
MR=MC
100-10Q=10+5Q
15Q=90
Q=6
As we have quantaty, we can find Average Revenue which equals price :P=AR=TR/Q
P=100-5Q=100-30=70
That's the answer!!
Good luck!
If you have any questions you may ask
1)Let's find profit maximizing point for perfect competition
MR=MC
100-10Q=10+5Q
15Q=90
Q=6
As we have quantaty, we can find Average Revenue which equals price :P=AR=TR/Q
P=100-5Q=100-30=70
That's the answer!!
Good luck!
If you have any questions you may ask