Author Question: The perfectly competitive firm's marginal revenue curve is A) exactly the same as the marginal ... (Read 76 times)

newyorker26 · **on:** Jul 1, 2018

The perfectly competitive firm's marginal revenue curve is

A) exactly the same as the marginal cost curve.
B) downward-sloping, at twice the (negative) slope of the market demand curve.
C) vertical.
D) horizontal.
E) upward-sloping.

Question 2

Refer to Figure 6.1. At which point on the total product curve is the average product of labor the highest?

A) point A.
B) point B.
C) point C.
D) point D.
E) none of the above