Characteristics of Perfect Competition
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Prefect competition is characterized by
a. rivalry in advertising
b. fierce quality competition
c. the inability of any one firm to influence price
d. widely recognized brands
my answer is D
Marginal revenue
a. is the slope of the average revenue curve
b. equals the market price in perfect competition
c. is the change in quantity divided by the change in total revenue
d. is the price divided by the changes in quantity
my answer is D
Marginal revenue is a firm's
a. Ratio of profit to quantity
b. ratio of average revenue to quantity
c. price per unit times the number of units sold
d. increase in total revenue when sells an additional unit of output.
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The characteristics of perfect competition are determined.
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Prefect competition is characterized by
c. the inability of any one ...
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