When a firm in a competitive market produces 15 units of output, it has a marginal revenue of $8.00. What would be the firm’s total revenue when it produces 8 units of output?  A. $64.00  B. $48.00  C. $6.00  D. $4.80 59) The competitive firm’s long-run supply curve is that portion of the marginal-cost curve that lies above which average cost?    A. sunk cost  B. total cost  C. variable cost  D. fixed cost

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