In a perfectly competitive market industry, firm's prices are equal to

a. Average revenue
b. Marginal revenue
c. Both a and b
d. None of the above

c

Economics

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The government makes all economic decisions in a market economy

Indicate whether the statement is true or false

Economics

All other factors held constant, if the price of game consoles rise, the demand for gaming titles will

A. shift to the left, because they are normally used together. B. remain constant. C. shift to the right, because they are normally used together. D. shift to the right, because they are substitutes.

Economics