For a firm in a perfectly competitive industry, which of the following is TRUE?
A. MR > P
B. MR < P
C. MR = P
D. AVC = ATC
Answer: C
You might also like to view...
Why is investing in technology a better option than investing in labor or capital as a means to sustained growth?
What will be an ideal response?
Economists believe that most people's actions are rational and purposeful, not random and chaotic
a. True b. False Indicate whether the statement is true or false
The payroll tax represents
a. the largest source of revenue in the federal budget. b. the second largest source of revenue in the federal budget. c. the third largest source of revenue in the federal budget. d. the largest source of revenue in state government budgets.
A market demand curve shows how the total quantity demanded of a good varies as
a. income varies. b. price varies. c. price of the nearest substitute good varies. d. supply varies.