For a perfect competitor, price equals
A) marginal revenue only.
B) average revenue only.
C) both average revenue and marginal revenue.
D) neither marginal revenue nor average revenue.
Answer: C
Economics
You might also like to view...
The biases in the CPI include the
A) old goods, unemployment, and inflation biases. B) new goods, quality change, and substitution biases. C) old goods, new goods, and quality change biases. D) substitution, new goods, and old goods biases.
Economics
Contractionary fiscal policy should be used if:
A) aggregate demand-aggregate supply equilibrium is below potential output. B) aggregate demand-aggregate supply equilibrium is above potential output. C) aggregate demand-aggregate supply equilibrium is equal to potential output. D) none of the above.
Economics