Which of the following describes the relationship among market price (P), average revenue (AR), and marginal revenue (MR)for a firm in monopolistic competition. A)P = AR = MR B)P AR = MR C)P = AR MR D)P AR MR E)P = AR

Question

Which of the following describes the relationship among market price (P), average revenue (AR), and marginal revenue (MR)for a firm in monopolistic competition.
A)P = AR = MR
B)P > AR = MR
C)P = AR > MR
D)P > AR > MR
E)P = AR < MR

Quizplus · Accepted Answer

The Answer of Which of the following describes the relationship among market price (P), average revenue (AR), and marginal revenue (MR)for a firm in monopolistic competition.
A)P = AR = MR
B)P > AR = MR
C)P = AR > MR
D)P > AR > MR
E)P = AR < MR

Which of the Following Describes the Relationship Among Market Price