For a perfectly competitive firm, price always equals marginal revenue.

Originally considered by economist Robert Mundell, decades later, in 2001, Europe adopted a new common currency now known as:

A) the euroyen, ¥. B) the eurodollar, $. C) the europa, . D) the euro, €.

If average cost is decreasing

A) marginal cost equals average cost. B) marginal cost exceeds average cost. C) marginal cost is less than average cost. D) Not enough information is given.