Question #228488

Which one of the following is incorrect under perfect competition

A.Marginal revenue is always equal to the price of the product.

B. Average revenue is always equal to marginal revenue.

C.Average revenue is always equal to the price of the product.

D.Marginal revenue is always equal to marginal cost


Expert's answer

B. Average revenue is always equal to marginal revenue.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Place free inquiry
Calculate the price
Learn more about our help with Assignments: Microeconomics
Our fields of expertise
Submit Your Assignment. We Can Do It.
LATEST TUTORIALS
APPROVED BY CLIENTS
Thanks for the assistance,,, your service is great
Guyana #340795 on Jan 2024