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:

Motivation

The inner drive or process that activates, guides, and maintains behavior towards achieving goals.

Expectancy Theory

A motivational theory suggesting that an individual's motivation is based on their expectations regarding outcomes of specific behaviors.

Motivation Levels

The intensity, direction, and persistence of effort a person shows in reaching a goal.

Components

The distinct parts or elements that make up a whole system or object.