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Author Question: What is the relationship among the following variables for a perfectly competitive firm: the market ... (Read 57 times)

bclement10

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on: Jun 29, 2018
What is the relationship among the following variables for a perfectly competitive firm: the market price, average revenue and marginal revenue?
 
  A) As a firm lowers the market price to sell more output, marginal revenue and average revenue will be less than the market price.
  B) Average revenue is equal to marginal revenue; average revenue is greater than the market price.
  C) The market price is equal to both average revenue and marginal revenue.
  D) Average revenue is equal to the market price; average revenue is greater than marginal revenue.

Question 2

If economies of scale are relatively important in an industry, the typical firm's
 
  A) long-run average cost curve will reach a minimum at a level of output that leaves room for a large number of firms to enter the industry.
  B) long-run average cost curve will begin rising before it reaches minimum efficient scale.
  C) long-run average cost curve will reach a minimum at a level of output that is a relatively large fraction of total industry sales.
  D) marginal cost curve will decline continuously until it reaches minimum efficient scale.
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sylvia

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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bclement10

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Reply 2 on: Jun 29, 2018
:D TYSM

epscape

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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