Average Revenue for a Perfectly Competitive Firm Is Equal to

question 225

Multiple Choice

Average revenue for a perfectly competitive firm is equal to

• A)price times output
• B)marginal revenue
• C)total revenue/marginal revenue
• D)output/total revenue
• E)zero

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Definitions:

Uncertainty

A situation characterized by unpredictability and a lack of information about future events.

Uncertainty

A state or condition in which there is a lack of certainty or predictability about something.

Necessary Information

Necessary information refers to data or facts that are essential to complete a task, solve a problem, or make an informed decision.

Certainty

A condition where there is complete absence of doubt or the total confidence in something.