Which of the Following Is True When a Perfectly Competitive

question 140

Multiple Choice

Which of the following is true when a perfectly competitive firm is in short-run equilibrium but not when a non-discriminating monopolist is in equilibrium?

• A)Price equals marginal cost.
• B)Price is greater than marginal cost.
• C)Marginal revenue equals marginal cost.
• D)Marginal revenue is less than marginal cost.
• E)Marginal revenue is greater than average revenue.

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Definitions:

Regulator Gene

A gene involved in controlling the expression of one or more other genes, often by producing a protein that can enhance or suppress gene activity.

Transcription

The process of converting DNA into RNA, specifically messenger RNA (mRNA), which then directs protein synthesis.

Repressor Molecule

A protein that inhibits gene expression by binding to the operator or associated silencers.

Operator

In genetics, a segment of DNA to which a repressor protein binds, controlling the transcription of nearby genes.