Changes in the Output of a Perfectly Competitive Firm, Without

question 509

Multiple Choice

Changes in the output of a perfectly competitive firm, without any change in the price of the product, will change the firm's

• A)total revenue.
• B)marginal revenue.
• C)average revenue.
• D)All of the above are correct.

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Definitions:

Social Structure

The organized pattern of social relationships and social institutions that together compose society.

Valley Forge

The military camp 18 miles northwest of Philadelphia where the American Continental Army spent the winter of 1777–1778 during the American Revolutionary War, notable for its conditions of hardship and resilience.

Saratoga

A decisive battleground in the American Revolutionary War where the American forces won a significant victory over the British in 1777.

American Troops

Military personnel from the United States, serving in the army, navy, air force, marines, or coast guard.