Question #249380
Which one of the following statement is incorrect under perfect competition.

A. marginal revenue is always equal to marginal cost
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. Average revenue is always equal to the marginal revenue.
1
Expert's answer
2021-10-10T16:34:32-0400

D. average revenue is always equal to marginal revenue.


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