For firms that sell one product in a perfectly competitive market, average revenue is equal to:

Name: For firms that sell one product in a perfectly competitive market, average revenue is equal to:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, a firm's average revenue (total revenue divided by total output) is equal to its marginal revenue (the revenue from selling one more unit), which is also equal to the market price, since firms are price takers in perfect competition.

For Firms That Sell One Product in a Perfectly Competitive