Answer:
option (c) $32
Explanation:
Data provided in the question:
The firm is in a competitive market
Number of units produced = 8
Marginal revenue = $8.00
Number of units sold = 4 units of output
Now,
If a firm is in a competitive market, the horizontal demand curve i.e the price remains the constant
therefore,
The firm's total revenue will be = Number of units sold × Marginal revenue
= 4 × $8
= $32
Hence,
The correct answer is option (c) $32
