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.


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

Comments

No comments. Be the first!
Our fields of expertise
Submit Your Assignment. We Can Do It.
LATEST TUTORIALS
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult. You can find this expert in "Assignmentexpert.com" with confidence. Exceptional experts! I appreciate your help. God bless you!
Canada #340153 on Dec 2023