Under perfect competition, price is equal to
A. marginal revenue.
B. total revenue divided by output.
C. average revenue.
D. All of the choices are equal to price under perfect competition.
D. All of the choices are equal to price under perfect competition.
Economics
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One part of a perfectly competitive trout farm's supply curve is its
A) marginal cost curve below the shutdown point. B) entire marginal cost curve. C) marginal cost curve above the shutdown point. D) average variable cost curve above the shutdown point. E) marginal revenue curve above the demand curve.
Economics
Why are universal standards for minimum wages and hours worked difficult to agree on?
What will be an ideal response?
Economics