Which of the Following Statements Is True? (I)

question 337

Multiple Choice

Which of the following statements is true? (i)
When a competitive firm sells an additional unit of output, its revenue increases by an amount less than the price.(ii)
When a monopoly firm sells an additional unit of output, its revenue increases by an amount less than the price.(iii)
Average revenue is the same as price for both competitive and monopoly firms.

• A)(ii) only
• B)(iii) only
• C)(i) and (ii) only
• D)(ii) and (iii) only

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Definitions:

Attachment of Tissues

The process or state where different types of tissues are physically or functionally connected to each other in the body.

Epithelial Tissue

A type of tissue that lines the outer surfaces of organs and blood vessels, as well as the interior surfaces of cavities in many internal organs, characterized by its sheet-like appearance and lack of blood vessels.

Acting as Barrier

A function or mechanism that prevents certain substances or signals from passing or being transmitted.

Secretion of Substances

The process by which substances are produced and released from a cell, gland, or organ for a particular function in the organism.