If a Perfectly Competitive Firm Maximises Short-Run Profits, Its Marginal

question 223

True/False

If a perfectly competitive firm maximises short-run profits, its marginal revenue will be positive and less than its price.

---

Definitions:

Structural Functionalist Theory

An approach in sociology that considers society to be a detailed system where all elements collaborate to ensure cohesion and equilibrium.

World War II

A global conflict that took place between 1939 and 1945, involving most of the world's nations and marked by significant events, including the Holocaust and the use of atomic bombs.

Segmentary Differentiation

A concept in sociology and anthropology referring to the division and organization of society into hierarchically arranged segments.

Identical Functions

In mathematics or computer science, this term refers to functions that produce the same output for all possible inputs.