If a firm is a price taker,its marginal revenue is
A) equal to market price.
B) less than market price.
C) greater than market price.
D) a multiple of market price that may be either greater than or less than one.
Correct Answer:
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Q10: In order to maximize profits,a firm should
Q11: In general,microeconomic theory assumes that firms attempt
Q12: If a firm wished to maximize total
Q13: A firm's marginal revenue is defined as
A)the
Q14: If the demand faced by a firm
Q16: It is usually assumed that a perfectly
Q17: Which of the following conditions would result
Q18: If a firm's marginal revenue is below
Q19: A firm's total revenue is equal to
A)total
Q20: If demand is inelastic,marginal revenue will be
A)positive.
B)zero.
C)negative.
D)constant.
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