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.

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Definitions:

Neural Plate

The neural plate is the flat layer of embryonic cells that develops into the neural tube, eventually forming the brain and spinal cord.

Differentiation

The process by which cells or tissues undergo a change toward a more specialized form or function during development.

Development

The process through which organisms grow and change over time, involving physical, biological, and sometimes psychological transformations.

Amnion

The amnion is a thin membrane that surrounds the embryo in mammals, birds, and reptiles, providing a protective environment.