For a purely competitive seller, price equals
A) average revenue.
B) marginal revenue.
C) total revenue divided by output.
D) all of these.

Name: For a purely competitive seller, price equals A) average revenue. B) marginal revenue. C) total revenue divided by output. D) all of these.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a purely competitive market, the price is equal to average revenue, marginal revenue, and total revenue divided by output, as the firm is a price taker and sells each unit at the market price.

For a Purely Competitive Seller, Price Equals