The Following Figure Shows the Demand Curve [ES],the Average Cost

question 15

Multiple Choice

The following figure shows the demand curve [ES],the average cost curve [AC],the marginal cost curve [MC],and the marginal revenue curve [MR] for a firm.
Figure 8-1

-Refer to Figure 8-1.If the regulator institutes marginal-cost pricing in the market,then:

• A)marginal cost = average cost.
• B)average revenue = marginal cost.
• C)marginal cost = marginal revenue.
• D)price = marginal cost = marginal revenue.
• E)price = marginal cost < average cost.

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