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.

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Definitions:

FR-5 Schedule

A fixed-ratio schedule of reinforcement where a response is rewarded only after five instances of the behavior.

FR-15 Schedule

A fixed-ratio schedule of reinforcement where a response is reinforced only after it has been produced 15 times.

Fixed-Ratio

A reinforcement schedule where a response is reinforced only after a specified number of responses.

Variable-Ratio

A reinforcement schedule where a response is reinforced after an unpredictable number of responses, leading to high and steady response rates.