The way that a change in price determines whether or not consumers buy goods

For a perfectly competitive firm, marginal revenue is identical to marginal cost at every quantity

a. True b. False

If perfect competition existed everywhere, along with frictionless exchange, perfect information, and constant returns to scale,

a. consumers would carry out transactions directly with resource suppliers b. firms would not have the information necessary to calculate marginal productivities of resources c. entrepreneurs would be needed to collect information d. consumers would produce output and then engage in barter e. the economy would be organized into one large firm