For an Individual Firm Operating in a Competitive Market, Marginal

question 183

Multiple Choice

For an individual firm operating in a competitive market, marginal revenue equals

• A)average revenue and the price for all levels of output.
• B)average revenue, which is greater than the price for all levels of output.
• C)average revenue, the price, and marginal cost for all levels of output.
• D)marginal cost, which is greater than average revenue for all levels of output.

---

Definitions:

Analgesic

A category of drugs used to achieve pain relief; also known as painkillers.

Pain

A negative sensory and emotional reaction related to either existing or impending bodily injury, or explained as if such injury has occurred.

Electromyography

A diagnostic procedure to assess the health of muscles and the nerve cells that control them (motor neurons) by recording the electrical activity produced by skeletal muscles.

Abbreviation

The shortened form of a word or phrase used to simplify writing usually followed by a period.