This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: For perfectly competitive firms, what is the relationship among market price (P), average revenue ... (Read 57 times)

Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

B


Davideckstein7

  • Hero Member
  • *****
  • Posts: 555
Reply #2 on: Jun 30, 2018
Thank you


rnehls

  • Sr. Member
  • ****
  • Posts: 313
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Average optimal blood pressure for age Average optimal blood pressure for age
Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ
Relationship of the electrocardiogram to electrical conduction in the heart. Relationship of the electrocardiogram to electrical conduction in the heart.
A Scatterplot of the Test Scores and Average Grades of 10 Students A Scatterplot of the Test Scores and Average Grades of 10 Students
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Average Precipitation Acidities and the Effects of Acid Rain Average Precipitation Acidities and the Effects of Acid Rain
Video: Inflammation Animation

For a complete list of videos, visit our video library