« previous next »

Author Question: Which of the following is not true for a firm in perfect competition? A) Price equals average ... (Read 48 times)

codyclark

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
Which of the following is not true for a firm in perfect competition?
 
  A) Price equals average revenue.
  B) Average revenue is greater than marginal revenue.
  C) Marginal revenue equals the change in total revenue from selling one more unit.
  D) Profit equals total revenue minus total cost.

Question 2

Refer to Table 10-6. What is Jay's optimal consumption bundle?
 
  A) 1 burger and 2 cans of Pepsi B) 2 burgers and 3 cans of Pepsi
  C) 3 burgers and 2 cans of Pepsi D) 3 burgers and 1 can of Pepsi
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Swizqar

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

codyclark

  • Hero Member
  • *****
  • Posts: 538
Reply #2 on: Jun 29, 2018
Thank you :)


Swizqar

  • Sr. Member
  • ****
  • Posts: 357
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Mars's average distance from the Sun is roughly 230 million km (1.5 AU) and its orbital period Mars's average distance from the Sun is roughly 230 million km (1.5 AU) and its orbital period
Uranus revolves around the Sun once every 84 Earth years. Its average distance from the Sun is rough Uranus revolves around the Sun once every 84 Earth years. Its average distance from the Sun is rough
Average national IQs according to IQ and Global Inequality Average national IQs according to IQ and Global Inequality
Average Number of Hours Slept per Day by Various Mammalian Species Average Number of Hours Slept per Day by Various Mammalian Species
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Anterosuperior view of true pelvis (blue) Anterosuperior view of true pelvis (blue)
Video: Alternative Energy Sources

For a complete list of videos, visit our video library