For a perfectly competitive firm, average revenue is equal to
A)marginal cost.
B)the market price.
C)total revenue.
D)average fixed cost.

Name: For a perfectly competitive firm, average revenue is equal to A)marginal cost. B)the market price. C)total revenue. D)average fixed cost.
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, a firm is a price taker, meaning it has no control over the price of the product. Therefore, the average revenue earned by the firm is equal to the market price.

For a Perfectly Competitive Firm, Average Revenue Is Equal to