Peter Schran plays no favorites. It's one price for all customers. Under this circumstance, we know that
A) MR = MC
B) P = MC
C) TR = TC
D) P = AR
E) P = TR

Name: Peter Schran plays no favorites. It's one price for all customers. Under this circumstance, we know that A) MR = MC B) P = MC C) TR = TC D) P = AR E) P = TR
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a single-price market, the price (P) is equal to the average revenue (AR) because each unit is sold at the same price.

Peter Schran Plays No Favorites