Author Question: Firms have several different concepts of revenue: total revenue, average revenue, marginal revenue, ... (Read 143 times)

olgamartinez04 · **on:** Oct 12, 2022

Question 1

For any firm operating in any market structure, marginal revenue (MR) equals
◦ △ p × △ q.
◦ p × q.
◦ (p × q)/q.
◦ △ (p × q)/△ q.
◦ △ q/△ p.

Question 2

Firms have several different concepts of revenue: total revenue, average revenue, marginal revenue, and price. For a profit-maximizing perfectly competitive firm, which statement below is true?
◦ Total revenue, average revenue, marginal revenue, and price are all equal.
◦ Only marginal revenue and price are equal.
◦ Average revenue, marginal revenue, and price are equal.
◦ Only average revenue and price are equal.
◦ None of these revenues are equal.

kaynelson17 · **Reply #1 on:** Oct 12, 2022

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