For Firms That Sell One Product in a Perfectly Competitive

question 89

Multiple Choice

For firms that sell one product in a perfectly competitive market,average revenue:

• A)will increase if marginal revenue is greater than it.
• B)will decrease if marginal revenue is greater than it.
• C)will always be the same as marginal revenue.
• D)None of these is true.

---

Definitions:

Milia

Tiny, white, keratin-filled cysts that form under the skin, often appearing on the face.

Lanugo

Fine, soft hair, especially that which covers the body and limbs of a human fetus or newborn.

Notochords

A flexible rod-shaped structure that provides support in all embryonic and some adult chordate animals.

Vertebrae

(vertebrae) (sing., vertebra) The bones that make up the spine.