Firms Have Several Different Concepts of Revenue: Total Revenue,average Revenue,marginal

question 30

Multiple Choice

Firms have several different concepts of revenue: total revenue,average revenue,marginal revenue,and price.For a profit- maximizing perfectly competitive firm,which statement below is true?

• A)Average revenue,marginal revenue,and price are equal.
• B)Total revenue,average revenue,marginal revenue,and price are all equal.
• C)Only average revenue and price are equal.
• D)Only marginal revenue and price are equal.
• E)None of these revenues are equal.

---

Definitions:

Prosocial Behavior

Voluntary actions intended to benefit or help others, such as sharing, comforting, or rescuing, motivated by empathy, moral principles, or social norms.

Injunctive Norm

A social norm that prescribes how individuals are supposed to behave in a given context, reflecting what is approved or disapproved by society.

Descriptive Norm

Social norms that convey information about what is commonly done in specific situations, guiding behavior through the understanding of what is typical or normal.

Violent Human Being

An individual who exhibits behaviors involving physical force intended to hurt, damage, or kill others.