This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: For perfectly competitive firms, what is the relationship among market price (P), average revenue ... (Read 45 times)

Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
on: Jun 30, 2018
For perfectly competitive firms, what is the relationship among market price (P), average revenue (AR), and marginal revenue (MR)?
 a. P = AR = MR
  b. P > AR = MR
  c. P = AR > MR
  d. P = AR < MR
  e. P < AR = MR

Question 2

A monopolist's demand curve
 a. is horizontal at the market price
  b. lies above its marginal revenue curve
  c. is the same as its marginal cost curve
  d. indicates that the firm must raise price to sell additional units
  e. lies above the marginal cost curve at all levels of output


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
Reply #2 on: Jun 30, 2018
Thank you


rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
Relationship of the electrocardiogram to electrical conduction in the heart Relationship of the electrocardiogram to electrical conduction in the heart
Relationship Between Training Intensity and VO2max Improvement Relationship Between Training Intensity and VO2max Improvement
Relationship Between BMI and % BF Relationship Between BMI and % BF
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
Most elderly enjoy maintaining relationship with their grandkids Most elderly enjoy maintaining relationship with their grandkids
Video: Glucose Evaluation Procedure

For a complete list of videos, visit our video library