If a Perfectly Competitive Firm Sells Its Product at the Market

question 119

Multiple Choice

If a perfectly competitive firm sells its product at the market price of $14 per unit,_____

• A)its marginal revenue is $14 and its average revenue is less than $14 per unit.
• B)its marginal revenue is less than $14 per unit and its average revenue is also less than $14 per unit.
• C)its average revenue is $14 and its marginal revenue is less than $14 per unit.
• D)its average revenue is $14 and its marginal revenue is also $14.
• E)its average and marginal revenue are $14 only for the first unit sold.

---

Definitions:

Battery

An intentional and unlawful physical act or force against another person, causing harm or offensive contact.

Seriously Injured

Suffering from injuries that are significant and potentially life-altering, often requiring extensive medical treatment.

False Imprisonment

The unlawful confinement of a person without consent or legal justification, restricting their freedom of movement.

Reasonable and Probable Grounds

The legal standard used to establish the justification needed for an action, such as an arrest or search, indicating that a reasonable person would also believe the action is justified based on the evidence.