Multiple Choice
Which of the following statements is true?
A) When a competitive firm sells an additional unit of output, its revenue increases by an amount less than the price.
B) Average revenue is the same as price for monopoly firms but not competitive firms.
C) Average revenue is the same as price for competitive firms but not monopoly firms.
D) When a monopoly firm sells an additional unit of output, its revenue increases by an amount less than the price.
Correct Answer:
Verified
Correct Answer:
Verified
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