For a Perfectly Competitive Firm, Average Revenue Is Equal to

question 73

Multiple Choice

For a perfectly competitive firm, average revenue is equal to

• A)marginal cost.
• B)the market price.
• C)total revenue.
• D)average fixed cost.

---

Definitions:

Movement

An act of changing physical location or position or of having this changed; often in the context of physical activity or migration.

Wakefulness

The state of being awake and aware of the surrounding environment, contrasting states like sleep.

Sleep

A natural and periodic state of rest for the mind and body, in which the eyes usually close and consciousness is completely or partially lost.

Trimester

A term used to divide the nine-month period of pregnancy into three equal parts, each roughly three months long, to describe the stages of fetal development.