Asked by
lizeth cornejo
on Dec 11, 2024
Verified
The marginal revenue of a price taker is
A) equal to price.
B) less than price.
C) more than price.
D) unrelated to price.
Marginal Revenue
The extra revenue earned by selling an additional unit of a product or service.
- Understand the concept of a price-taker firm in competitive markets.
- Comprehend the importance of market price in the computation of a firm's income and costs.
Verified Answer
LB
Learning Objectives
- Understand the concept of a price-taker firm in competitive markets.
- Comprehend the importance of market price in the computation of a firm's income and costs.