In perfect competition:
A) a firm's total revenue is found by multiplying the market price by the firm's quantity of output.
B) the firm's total revenue curve is a downward-sloping line.
C) at any price,the more sold,the higher is a firm's marginal revenue.
D) the firm's total revenue curve is nonlinear.
Correct Answer:
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Q31: In a perfectly competitive industry,the market demand
Q32: If a perfectly competitive gardening shop sells
Q33: Total revenue is a firm's:
A)change in revenue
Q34: When perfect competition prevails,which characteristic of firms
Q35: Marginal revenue:
A)is the slope of the average
Q37: If a perfectly competitive firm increases production
Q38: Marginal revenue is a firm's:
A)ratio of profit
Q39: The marginal revenue received by a firm
Q40: The difference between total revenue and total
Q41: If a perfectly competitive firm sells 10
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