For a Firm Operating in a Competitive Industry, Which of the Following

question 453

Multiple Choice

For a firm operating in a competitive industry, which of the following statements is not correct?

• A)Price equals average revenue.
• B)Price equals marginal revenue.
• C)Total revenue is constant.
• D)Marginal revenue is constant.

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Definitions:

Oral Rehydration Therapy

A simple, cost-effective treatment used to prevent dehydration due to diarrhea, involving the oral ingestion of a solution of salts and sugars.

Dehydration

A condition resulting from the excessive loss of water from the body.

Plasticity

The tendency of new parts of the brain to take up the functions of injured parts.

Brain Compensate

The process by which the brain adjusts or alters its function in response to damage, injury, or developmental issues.