If a Perfectly Competitive Firm Charges the Market Price of $14

question 82

Multiple Choice

If a perfectly competitive firm charges the market price of $14 per unit,

• A)its marginal revenue is $14, and its average revenue is less than $14 per unit
• B)it will sell no output
• C)its average revenue is $14, and its marginal revenue is less than $14 per unit
• D)its average revenue is $14, and its marginal revenue is $14
• E)its average and marginal revenue are $14 only for the first unit sold

---

Definitions:

Deferred Imitation

The ability to remember and replicate actions observed at an earlier time, without the model being present.

Months of Age

A measurement of time used to specify how old someone or something is in months, often applied to infants and young children.

Piaget

Swiss psychologist Jean Piaget is known for his theory on the cognitive development of children, identifying stages of mental growth from infancy to adolescence.

Deferred Imitation

The ability to observe an action and replicate it later, even without the immediate presence of the original stimulus or model.