The market price of one package of raspberries sold in a perfectly competitive market is $7. Based on this information, what is the marginal revenue of increasing production from 30 packages to 45 packages?

$105

Explanation:

In a perfectly competitive market, all suppliers and all consumers are price takers. That means that no one has enough market power to either raise or lower the price.

This means that the marginal revenue obtained by selling 15 more packages = 15 packages x $7 = $105

In a perfectly competitive market, the demand curve is perfectly elastic or horizontal at a given market price.

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