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Author Question: For perfectly competitive firms, what is the relationship among market price (P), average revenue ... (Read 59 times)

Davideckstein7

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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


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rnehls

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


Davideckstein7

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Reply #2 on: Jun 30, 2018
Thank you


rnehls

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Reply #3 on: Jun 30, 2018
No problemo


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