Jim's Shoe Shine Shop operates in a perfectly competitive market.If its marginal revenue is $5 per shine,then
A) the next shine will bring in less than $5 in additional revenue
B) the next shine will bring in more than $5 in additional revenue
C) the market price per shine is $5
D) price is less than $5
E) price is equal to total revenue at all output levels
Correct Answer:
Verified
Q43: In perfect competition
A)the demand curve facing the
Q44: When marginal revenue equals price for all
Q45: Q46: A firm can maximize profits in the Q47: If a firm is a price taker,then Q49: In the short run under perfect competition,an Q50: Which of the following is always true Q51: For a perfectly competitive firm, Q52: A perfectly competitive firm's total revenue curve Q53: Firms are assumed to
A)marginal revenue equals
A)is
A)maximize profit per unit
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