Which of the Following Expressions Is Correct for a Competitive

question 154

Multiple Choice

Which of the following expressions is correct for a competitive firm?

• A)profit = (quantity of output) x (price - average total cost)
• B)marginal revenue = (change in total revenue)/(quantity of output)
• C)average total cost = total variable cost/quantity of output
• D)average revenue = (marginal revenue) x (quantity of output)

---

Definitions:

Assassinated

The act of killing someone suddenly and deliberately, especially a prominent or important person, for political or ideological reasons.

Lincoln

The 16th President of the United States, Abraham Lincoln, who led the country during the Civil War and worked to abolish slavery.

Conspiracy

A secret plan by a group to do something unlawful or harmful, often involving deception.

Lincoln

Referring to Abraham Lincoln, the 16th President of the United States, known for leading the country during the Civil War and emancipating the slaves.