Question #227009

  • Which one of the following statements is incorrect? Under perfect competition A. average revenue is always equal to marginal revenue.
  •  B. marginal revenue is always equal to the price of the product.
  •  C. average revenue is always equal to the price of the product.
  •  D. marginal revenue is always equal to marginal cost.

Expert's answer

A. average revenue is always equal to marginal revenue.



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