A firm's price is
A)greater than average revenue.
B)greater than marginal revenue.
C)less than marginal cost.
D)equal to average revenue.

Question

Quizplus · Accepted Answer

In a firm, especially under perfect competition, the price at which goods are sold is equal to the average revenue, as average revenue is calculated by dividing the total revenue by the quantity sold, which essentially gives the price per unit sold.

A Firm's Price Is