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Answer to Question #227009 in Microeconomics for Yaya
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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