For a perfectly competitive firm
A. price is greater than marginal revenue.
B. price is less than marginal revenue.
C. price equals marginal revenue.
D. there is no relationship between price and marginal revenue.
Answer: C
Economics
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A bank can only fail if it is not in good financial health
a. True b. False
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Budget constraints exist for consumers because
a. their utility from consuming goods eventually reaches a maximum level. b. even with unlimited incomes they have to pay for each good they consume. c. they have to pay for goods, and they have limited incomes. d. prices and incomes are inversely related.
Economics