For a Firm in a Perfectly Competitive Market, Price Is

question 15

Multiple Choice

For a firm in a perfectly competitive market, price is

• A)equal to both average revenue and marginal revenue.
• B)equal to average revenue but greater than marginal revenue.
• C)greater than marginal revenue but less than average revenue.
• D)less than both average revenue and marginal revenue.

---

Definitions:

Internal Iliac Vein

A vein located in the pelvis that drains blood from the lower abdomen and pelvis into the common iliac veins.

Hepatic Portal Vein

A blood vessel that carries nutrient-rich blood from the gastrointestinal tract and spleen to the liver.

Postcava

Also known as the inferior vena cava, it's a large vein that carries deoxygenated blood from the lower half of the body into the heart.

Cephalic Vein

A large vein that runs along the outer side of the arm from the hand to the shoulder, often used for intravenous injections or blood sampling.