What Is the Relationship Among the Following Variables in for a Perfectly

question 176

Multiple Choice

What is the relationship among the following variables in for a perfectly competitive firm: the market price, average revenue and marginal revenue?

• A) Average revenue is equal to the market price; average revenue is greater than marginal revenue.
• B) The market price is equal to both average revenue and marginal revenue.
• C) Average revenue is equal to marginal revenue; average revenue is greater than the market price.
• D) As a firm lowers the market price to sell more output, marginal revenue and average revenue will be less than the market price.

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Definitions:

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A type of therapy based on the psychoanalytic perspective, focusing on unconscious processes as they are manifested in a person's present behavior, with an emphasis on emotional and relationship issues.