Which of the Following Is Not True for a Firm

question 25

Multiple Choice

Which of the following is not true for a firm in perfect competition?

• A)Profit equals total revenue minus total cost.
• B)Price equals average revenue.
• C)Average revenue is greater than marginal revenue.
• D)Marginal revenue equals the change in total revenue from selling one more unit.

---

Definitions:

Loss

Loss refers to the act or instance of losing something, such as property, life, health, or dignity, often leading to feelings of grief and sadness.

Substance Abuse

The harmful or hazardous use of psychoactive substances, including alcohol and illicit drugs.

Substance Dependence

A condition marked by a physical or psychological need to continuously use a substance despite adverse consequences.

Compliance

The act of conforming to or following rules, standards, or laws.