The Figure Given Below Shows the Revenue and Cost Curves

question 111

Multiple Choice

The figure given below shows the revenue and cost curves of a firm. MC represents the marginal cost curve, AC the average cost curve, MR the marginal revenue curve, and AR the average revenue curve.Figure 9.4

-Firms under perfect competition produce:

• A)homogeneous products.
• B)unique products.
• C)either standardized or differentiated products.
• D)differentiated products.
• E)antique products.

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