For a perfectly competitive firm, price is the same as
A) marginal revenue.
B) average variable cost.
C) total revenue.
D) Both answers A and B are correct.
A
Economics
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An increase in the wages paid to fishermen will have what effect on the fish market equilibrium?
a. Price will decrease, and quantity will decrease. b. Price will increase, and quantity will increase. c. Price will decrease, and quantity will increase. d. Price will increase, and quantity will decrease. e. Price and quantity will stay the same.
Economics
Which of the following would decrease the value of money?
a. Money demand exceeds money supply b. The Federal Reserve sells government bonds c. The velocity of money decreases d. The price level decreases
Economics