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Economics
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1)What is a perfectly competitive market?

2)What is marginal revenue? How is it related to total and average revenue?

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Divya Singh
Divya SinghLv10
28 Sep 2019

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Related questions

In a perfectly competitive market, the process of entry and exit will end when

  1. accounting profits equal to zero.
  2. marginal revenue equal to the long-run average total cost.
  3. average revenue greater than the marginal cost.
  4. total revenue equal to the average total cost.

In a perfectly competitive market, the process of entry and exit will end when firms face:

A. Accounting profits equal to zero

B. Marginal revenue equal to long-run average total cost

C. Average revenue greater than marginal cost

D. Total revenue equal to average total cost

In a perfectly competitive market, the process of entry and exit will end when firms face:

A. Accounting profits equal to zero

B. Marginal revenue equal to long-run average total cost

C. Average revenue greater than marginal cost

D. Total revenue equal to average total cost

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