In perfect competition, the average revenue curve of a fi...
In perfect competition, the average revenue curve of a firm is
Below the marginal revenue curve
Downward sloping
The marginal revenue curve
Convex to the origin
Correct answer is C
For a perfectly competitive firm, the average revenue curve is a horizontal, or perfectly elastic, line. It is the same as a marginal revenue curve which is also a horizontal line at the market price, implying perfectly elastic demand.
The satisfaction derived from the consumption of a commodity is referred to as ...
One way of solving the problem of double counting is by ...
Given that B = Births D = Death X = Emigrants M = Immigration The population of a c...
In a period of unemployment and falling prices, the government should adopt a ...
Which of the following is a disadvantage of localization of industries? ...
Which of the following is not true of the theory of optimum population? ...