Answered: Under which market structure, average…

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Economics

Under which market structure, average revenue of a firm is equal to its marginal revenue

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter16: Monopolistic Competition

Section: Chapter Questions

Problem 4QCMC

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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.

Question

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28. Under which market structure,
average revenue of a firm is equal to
its marginal revenue
A. O oligopoly
B. O Monopoly
C. O Perfect competition
D. O Monopolistic competition

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