Question
What is a characteristic of a perfectly competitive market? a. Marginal revenue exceeds average revenue. b. Average revenue exceeds total revenue. c. Marginal revenue equals
What is a characteristic of a perfectly competitive market?
a. Marginal revenue exceeds average revenue.
b. Average revenue exceeds total revenue.
c. Marginal revenue equals average revenue.
d. Average revenue exceeds marginal revenue.
also,
What is a short-run supply curve for a perfectly competitive firm?
a. the firm's average-variable-cost curve
b. the portion of the firm's average-total-cost curve that lies above the average-variable-cost curve
c. the portion of the firm's marginal-cost curve that lies above the average-variable-cost curve
d. the firm's marginal-revenue curve
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