If demand facing the firm is price-inelastic, marginal revenue will be:

Under long-run perfect competition, which of the following are the same (equal) at all levels of output?

a. Price and marginal cost. b. Price and marginal revenue. c. Marginal cost and marginal revenue. d. All of these.

If a supply curve has a constant slope throughout its length, it must have a constant price elasticity throughout its length

a. True b. False Indicate whether the statement is true or false