For a Perfectly Competitive Firm, Average Revenue Equals Marginal Cost

question 116

True/False

For a perfectly competitive firm, average revenue equals marginal cost at the profit-maximizing output.

---

Definitions:

Neuron

A cell dedicated to sending signals in the form of nerve impulses; known as a neuron.

Antagonist

A substance that interferes with or inhibits the physiological action of another, particularly in pharmacology referring to a drug that blocks the action of a neurotransmitter or hormone.

Excitatory Postsynaptic Potentials

Electrical changes in a neuron that increase the likelihood it will fire an action potential, usually in response to neurotransmitter release.

Brain Maturation

The process of growth and development of the brain, affecting cognitive abilities, emotional regulation, and neural connectivity.