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Relationship between the Short Run Average and Marginal Cost Curves

A firm is abl...

Question

A firm is able to sell any quantity of a good at a given price

A

Greater than Average Revenue

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B

Less than Average Revenue

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C

Equal to Average Revenue

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D

Zero

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Solution

The correct option is C
Equal to Average Revenue

The firm’s marginal revenue is the net addition to the revenue when an additional unit of goods is produced. Therefore, the marginal revenue will be equal to average revenue.

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