Under perfect competition, which of the following are the same (equal) at all levels of output? a. Price and marginal cost b. Price and marginal revenue c. Marginal cost and Marginal revenue d. All of the above answers are correct.

Under perfect competition, which of the following are the same (equal) at all levels of output? a. Price and marginal cost b. Price and marginal revenue c. Marginal cost and Marginal revenue d. All of the above answers are correct.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter10: The Firm And The Industry Under Perfect Competition

Section: Chapter Questions

Problem 3DQ

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Question

Under perfect competition, which of the following are the same (equal) at all levels of output?

a. Price and marginal cost

b. Price and marginal revenue

c. Marginal cost and Marginal revenue

d. All of the above answers are correct.

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