For a price-taker firm, marginal revenue is
A) equal to price.
B) equal to zero when the market is in long-run equilibrium.
C) equal to the change in total revenue divided by the change in output.
D) both a and c.
Correct Answer:
Verified
Q206: Which of the following is true?
A) When
Q207: If the demand for a product increases
Q208: Historically, most economists have referred to markets
Q209: When consumer demand for a good produced
Q210: A price-taker firm is currently producing 50
Q212: To maximize profits, a firm should always
Q213: If a firm in a price-taker market
Q214: Which of the following statements is correct?
A)
Q215: If firms in a price-taker industry were
Q216: If you were the owner of a
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