23. In case of perfect competition in the market A. O Marginal revenue curve always slopes upward B. O Marginal revenue curve always slopes downwards C. O Marginal revenue is always equal to average revenue D. O Marginal revenue is always less than average revenue

23. In case of perfect competition in the market A. O Marginal revenue curve always slopes upward B. O Marginal revenue curve always slopes downwards C. O Marginal revenue is always equal to average revenue D. O Marginal revenue is always less than average revenue

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 6PA: A firm in a competitive market receives 500 in total revenue and has marginal revenue of 10. What is...

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

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23. In case of perfect competition in
the market
A. O Marginal revenue curve always
slopes upward
B. O Marginal revenue curve always
slopes downwards
C. O Marginal revenue is always equal to
average revenue
D. O Marginal revenue is always less
than average revenue

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