The MR = MC Rule Can Be Restated for a Purely

question 5

Multiple Choice

The MR = MC rule can be restated for a purely competitive seller as P = MC because

• A) each additional unit of output adds exactly its price to total revenue.
• B) the firm's average revenue curve is downsloping.
• C) the market demand curve is downsloping.
• D) the firm's marginal revenue and total revenue curves will coincide.

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Definitions:

Distilled Water

Water that has been purified through distillation, removing impurities and minerals.

Salt

Molecule consisting of a cation other than hydrogen and an anion other than hydroxide.

Hypertonic Solution

A solution that has a higher concentration of solutes outside the cell than inside, causing water to leave the cell, potentially leading to cell shrinkage or crenation.

Red Blood Cell

Cells in the blood that carry oxygen from the lungs to the rest of the body and return carbon dioxide for expulsion.