If a Perfectly Competitive Firm Sells Its Product at the Market

Multiple Choice

If a perfectly competitive firm sells its product at the market price of $14 per unit,_____

A) its marginal revenue is $14 and its average revenue is less than $14 per unit.
B) its marginal revenue is less than $14 per unit and its average revenue is also less than $14 per unit.
C) its average revenue is $14 and its marginal revenue is less than $14 per unit.
D) its average revenue is $14 and its marginal revenue is also $14.
E) its average and marginal revenue are $14 only for the first unit sold.