For a Perfectly Competitive Firm, Which of the Following Is

question 209

Multiple Choice

For a perfectly competitive firm, which of the following is not true at profit maximisation?

• A)Market price is greater than marginal cost.
• B)Marginal revenue equals marginal cost.
• C)Total revenue minus total cost is maximised.
• D)Price equals marginal cost.

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Definitions:

Osmoreceptors

Specialized cells in the body that detect changes in plasma osmolality and contribute to the regulation of body fluids.

Extracellular Fluid

The body fluid located outside the cells, which includes interstitial fluid, plasma, and transcellular fluid.

Aldosterone

A hormone produced by the adrenal glands that regulates sodium and potassium levels in the blood, thereby controlling blood pressure and the balance of fluids in the body.

Hypernatremia

Abnormally high plasma concentration of sodium ions.