If a perfectly competitive firm charges the market price of $14 per unit,
A) its marginal revenue is $14, and its average revenue is less than $14 per unit
B) it will sell no output
C) its average revenue is $14, and its marginal revenue is less than $14 per unit
D) its average revenue is $14, and its marginal revenue is $14
E) its average and marginal revenue are $14 only for the first unit sold
Correct Answer:
Verified
Q73: Exhibit 8-5 Q74: Exhibit 8-5 Q75: For a perfectly competitive firm, marginal revenue Q76: Exhibit 8-5 Q77: The golden rule of profit maximization states Q79: Marginal revenue is the change in total Q80: The total revenue curve for a perfectly Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
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