Which Is Necessarily True for a Purely Competitive Firm in Short-Run

question 41

Multiple Choice

Which is necessarily true for a purely competitive firm in short-run equilibrium?

• A)Marginal revenue minus marginal cost equals zero.
• B)Price minus average total cost equals zero.
• C)Total revenue minus total cost equals zero.
• D)Marginal revenue is zero.

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Definitions:

Hearing Loss

A partial or total inability to hear sounds in one or both ears.

Vestibulocochlear Nerve

The eighth cranial nerve, responsible for hearing and balance.

Wisdom Teeth

The last set of molars that most people get in their late teens or early twenties, often removed if misaligned or causing discomfort.

Chewing

The act of breaking down food with the teeth to aid in the digestive process.