The Figure Given Below Shows the Revenue and Cost Curves

question 73

Multiple Choice

The figure given below shows the revenue and cost curves of a firm. MC represents the marginal cost curve, AC the average cost curve, MR the marginal revenue curve, and AR the average revenue curve.Figure 9.4

-The demand curve faced by a perfectly competitive firm is:

• A)perfectly inelastic.
• B)relatively elastic.
• C)unit elastic.
• D)perfectly elastic.
• E)relatively inelastic.

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