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Could someone check my answers? 1. In pure competition, marginal revenue is: A. Equal to total revenue B. Equal to product price C. Less than
Could someone check my answers?
1. In pure competition, marginal revenue is: A. Equal to total revenue B. Equal to product price C. Less than product price D. Greater than product price 2. In the standard model of pure competition, a profit-maximizing entrepreneur will shut down in the short run if: A. Marginal cost > average revenue B. Average cost > average revenue C. Average fixed cost > average revenue D. Total revenue Step by Step Solution
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