For a perfectly competitive firm,
a. marginal revenue equals total revenue
b. total revenue always exceeds total cost
c. price always exceeds average total cost
d. marginal cost always equals average cost
e. the marginal revenue curve and the demand curve lie on top of each other
E
Economics
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Suppose France's real GDP grew from $750 billion in 2010 to $821 billion in 2011. What was the growth rate of France's real GDP?
A) 10 percent B) 9.5 percent C) 9.1 percent D) 8.6 percent E) $71 billion
Economics
A pure private good is
A. nonrival in consumption and subject to exclusion. B. rival in consumption and subject to exclusion. C. rival in consumption and not subject to exclusion. D. all of these answer options are correct.
Economics