In Pure Competition,the Average Revenue of a Firm Always Equals

question 130

Multiple Choice

In pure competition,the average revenue of a firm always equals:

• A) marginal cost.
• B) average total cost.
• C) marginal revenue.
• D) total revenue.

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Definitions:

Justice

The principle of fairness and the moral rightness of actions and laws, often pursued through the judicial system to resolve disputes and enforce laws.

Common Law

A legal system based on judicial precedents and case law rather than codified statutes, predominantly found in the UK, the US, and other countries with British influence.

Labor Laws

The set of legal regulations governing the rights and duties between employers and workers, including working conditions, wages, and work hours.

Exploited

Utilized to the fullest extent often at the expense of fair treatment or benefit.