« previous next »

Author Question: Which of the following is not true for a firm in perfect competition? A) Price equals average ... (Read 70 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?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

On average, the ratio of carbon to nitrogen is much higher in terrestrial plants than in other major On average, the ratio of carbon to nitrogen is much higher in terrestrial plants than in other major
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Average national IQs according to IQ and Global Inequality Average national IQs according to IQ and Global Inequality
One-handed kneading. Tissues are lifted with the whole hand in firm contact. One-handed kneading. Tissues are lifted with the whole hand in firm contact.
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: Male Reproductive System - Testosterone

For a complete list of videos, visit our video library