For a Competitive Firm

question 396

Multiple Choice

For a competitive firm,

• A)total revenue equals average revenue.
• B)total revenue equals marginal revenue.
• C)total cost equals marginal revenue.
• D)average revenue equals marginal revenue.

---

Definitions:

Credit Balance

A positive amount that represents a sum of money owed to a company in its books.

Form W-4

A U.S. tax form used by employees to indicate their tax situation to their employer, such as marital status and allowances, to determine withholding tax.

Federal Income Taxes

Taxes levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Defined Contribution Plans

Retirement plans in which the amount invested in the plan is defined, but the future benefit to be received is not.