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.

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Definitions:

Sales Force Automation

The use of software to automate business tasks of sales, including order processing, contact management, inventory monitoring, and customer management.

Distribution Management

The process of overseeing the movement of goods from supplier or manufacturer to point of sale.

Sales Force Automation System

A system used to automate various sales and sales management functions, such as order processing, contact management, inventory monitoring, and sales forecast analysis.

Geographic Information System

A computer system used for capturing, storing, checking, and displaying data related to positions on Earth’s surface, facilitating the evaluation of geographical relationships and patterns.