For an Imperfectly Competitive Firm

question 252

Multiple Choice

For an imperfectly competitive firm,

• A)total revenue is a straight, upsloping line because a firm's sales are independent of product price.
• B)the marginal revenue curve lies above the demand curve because any reduction in price applies to all units sold.
• C)the marginal revenue curve lies below the demand curve because any reduction in price applies to all units sold.
• D)the marginal revenue curve lies below the demand curve because any reduction in price applies only to the extra unit sold.

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