If a perfectly competitive firm sells its product at the market price of $14 per unit,_____
A) its marginal revenue is $14 and its average revenue is less than $14 per unit.
B) its marginal revenue is less than $14 per unit and its average revenue is also less than $14 per unit.
C) its average revenue is $14 and its marginal revenue is less than $14 per unit.
D) its average revenue is $14 and its marginal revenue is also $14.
E) its average and marginal revenue are $14 only for the first unit sold.
Correct Answer:
Verified
Q68: Exhibit 8.6 Q69: Exhibit 8.5 Q70: Exhibit 8.6 Q71: If Harry's Blueberries,a perfectly competitive firm,is losing Q72: If a firm is producing at an Q74: For perfectly competitive firms,which of the following Q75: The Hound Dog Bus Company contemplates expanding Q76: In the short run,if a firm shuts Q77: Exhibit 8.4 Q86: A perfectly competitive firm's profit per unit Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
![]()
![]()
![]()
![]()