In a perfectly competitive market industry, firm's prices are equal to
a. Average revenue
b. Marginal revenue
c. Both a and b
d. None of the above
c
You might also like to view...
Refer to the table above. What is the average (mean) monthly wage?
A) $450 B) $558 C) $612 D) $650
A monopoly will be maximizing profits if it is operating at the point where:
a. price is at a maximum. b. average cost is at a minimum. c. average cost is at a maximum. d. marginal cost is at a minimum. e. marginal revenue = marginal cost.
In equilibrium, the interest parity condition requires that:
a. all rates of returns will equalize. b. all spot and forward rates will equalize. c. the home interest rate minus its expected rate of currency depreciation (against the foreign country) will equal the foreign interest rate on similar assets. d. all rates of returns and forward rates will equalize.
According to the graph shown, at a price of $15, there is a:
A. shortage of 20. B. surplus of 20. C. shortage of 30. D. shortage of 10.