For a Price-Taker Firm, Marginal Revenue Is

question 243

Multiple Choice

For a price-taker firm, marginal revenue is

• A) equal to price.
• B) equal to zero when the market is in long-run equilibrium.
• C) equal to the change in total revenue divided by the change in output.
• D) both a and c.

---

Definitions:

Relative Age Effect

A phenomenon in sports and education where the age difference among peers affects their performance and opportunities.

Consumer Psychology

The study of how people's thoughts, beliefs, feelings, and perceptions influence how they buy and relate to goods and services.

Sensory Organs

Sensory organs are specialized structures that organisms possess to detect and process environmental stimuli, including eyes, ears, nose, tongue, and skin.

Reproduction

Producing babies that survive long enough to also reproduce.