Suppose That a Firm Operating in Perfectly Competitive Market Sells

question 169

Multiple Choice

Suppose that a firm operating in perfectly competitive market sells 300 units of output at a price of $3 each. Which of the following statements is correct? (i)
Marginal revenue equals $3.
(ii)
Average revenue equals $100.
(iii)
Total revenue equals $300.

• A)(i) only
• B)(iii) only
• C)(i) and (ii) only
• D)(i), (ii), and (iii)

Identify and differentiate between various types of crowds and their characteristics.

Know significant historical events that have impacted societal norms, specifically the Canadian Charter of Rights and Freedoms.

Distinguish between concepts of fads, fashions, rumours, and urban legends.

Comprehend theories related to collective behaviour, including contagion theory, convergence theory, and emergent norm theory.

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Definitions:

Crowdfunding

The practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

Registration Requirements

The specific criteria and documentation that must be submitted to register or legally recognize a business, product, or activity with the relevant authorities.

Securities Act Of 1933

A U.S. federal law enacted to ensure more transparency in financial statements so investors can make informed decisions about investments.

Providing Investors

The act of offering opportunities or information to individuals or entities willing to allocate resources with the expectation of a future financial return.