Which statement explains the relationship between average revenue,marginal revenue,and price in a competitive market
A) Average revenue equals the price of the good, but marginal revenue is different.
B) Marginal revenue equals the price of the good, but average revenue is different.
C) Average revenue equals marginal revenue, but the price of the good is different.
D) Average revenue, marginal revenue, and the price of the good are all equal to one another.
Correct Answer:
Verified
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