Firm A and B are producers in the same perfectly competitive industry. If Firm A earns a marginal revenue of $17,
a. it earns an average revenue less than $17
b. Firm B earns an average revenue of $17
c. Firm B will try to charge $16 per unit
d. it earns an average revenue greater than $17
e. Firm B earns an average revenue greater than $17
B
Economics
You might also like to view...
Typically, employers compete with each other in the labor market to get and to retain the best possible workers. Explain how such competition might prevent the unemployment rate from ever being close to zero
What will be an ideal response?
Economics
Under what circumstances will the economic rent earned by a factor of production always be zero?
A) Infinitely inelastic supply curve B) Infinitely elastic supply curve C) Somewhat inelastic supply curve D) Elastic demand curve
Economics