For a perfectly competitive firm,at any output rate
A) total cost equals total revenue.
B) price and total revenue are the same.
C) marginal cost and price are the same.
D) total cost equals supply.
E) price and marginal revenue are the same.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, the price is equal to marginal revenue because firms are price takers and can sell any quantity at the market price.

For a Perfectly Competitive Firm,at Any Output Rate