Multiple Choice
In pure competition, each extra unit of output that a firm sells will yield a marginal revenue that is
A) equal to the price.
B) less than the price.
C) greater than the price.
D) equal to the average cost.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q136: Price is taken to be a "given"
Q137: Which of the following changes will not
Q138: Economists would describe the U.S. automobile industry
Q140: Which is necessarily true for a purely
Q142: A purely competitive firm currently producing 20
Q143: Suppose that at 500 units of output,
Q144: A perfectly elastic demand curve implies that
Q145: A competitive firm faces fixed costs even
Q146: Which market model assumes the least number
Q264: A competitive firm will produce in the