Multiple Choice
A perfectly competitive firm's total revenue is equal to which of the following?
A) average revenue multiplied by price.
B) price times quantity of the product sold,divided by quantity of the product sold.
C) the revenue received on the last unit sold.
D) marginal revenue times quantity of the product sold.
E) price multiplied by marginal revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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