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28 Sep 2019
For an individual firm operating in a competitive market, marginal revenue equals:
a) marginal cost, which is greater than average revenue for all levels of output.
b) average revenue and the price for all levels of output
c) average revenue, which is greater than the price for all levels of output.
d) average revenue, the price, and marginal cost for all levels of output.
For an individual firm operating in a competitive market, marginal revenue equals:
a) marginal cost, which is greater than average revenue for all levels of output.
b) average revenue and the price for all levels of output
c) average revenue, which is greater than the price for all levels of output.
d) average revenue, the price, and marginal cost for all levels of output.
Verified Answer
Joshua StredderLv10
28 Sep 2019
Jeffrey
JD Candidate at Stanford Law School25 Jun 2020
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