For a perfectly competitive firm
A) price is greater than marginal revenue.
B) price equals marginal revenue.
C) price is less than marginal revenue.
D) there is no relationship between price and marginal revenue.
B
You might also like to view...
The Walt Disney Company uses cost-plus pricing to determine the prices it charges for admission and rides at Disneyland and Walt Disney World
Indicate whether the statement is true or false
Monopolistic competition is a market structure characterized by many small firms selling a homogeneous product.
Answer the following statement true (T) or false (F)
A sterilized central bank intervention does not affect the domestic money supply
Indicate whether the statement is true or false
?
In Exhibit 3-11, in Panel A the movement from point A to point B describes a(n):
A. increase in demand and an increase in the quantity supplied. B. increase in the quantity demanded and an increase in supply. C. decrease in demand and a decrease in the quantity supplied. D. decrease in the quantity demanded and a decrease in supply.