Multiple Choice Questions on A firm is able to sell any quantity of a good at a given price The firm 39 s Marginal Revenue w........... for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

A firm is able to sell any quantity of a good at a given price The firm 39 s Marginal Revenue w...........

Economics (CUET) Theory of firm under perfect Competition
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    A firm is able to sell any quantity of a good at a given price. The firm's Marginal Revenue will be____________.

     

    More than average revenue
     

    Incorrect Answer

    Less than average revenue
     

    Incorrect Answer

    Equal to average revenue

     

    Correct Answer

    None of the above

    Incorrect Answer
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    Explanation:

    Option (3) is correct.
    Explanation: When a firm is able to sell any quantity of a good at a given price. This happens under perfect competition when price of a good remains constant. Then, firm's
    marginal revenue is equal to average revenue.

     

    By: Parvesh Mehta
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