Which Expression Is Correct for a Competitive Firm

question 53

Multiple Choice

Which expression is correct for a competitive firm

• A)Profit = Total revenue - Total variable cost
• B)Marginal revenue = (Change in total revenue) ÷ (Change in quantity of output)
• C)Average revenue = Total revenue ÷ Marginal revenue
• D)Total revenue = Marginal revenue + Average revenue

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Definitions:

Indefinitely

For an unknown or unstated length of time, often implying an extended period that has no predetermined end.

Digital Manipulation

Altering media so that the images captured are changed from the way they were originally seen by the human eye.

Human Eye

An organ of vision in humans and other animals, allowing for the perception of light and facilitating the sense of sight.

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