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Which of the following is true? A. Price and average revenue are never equal. B. Price and marginal revenue are seldom equal under conditions of perfect competition. C. When a firm is
operating under perfectly competitive market conditions, price and marginal cost will always be equal if the firm is maximizing profits. D. Average revenue equals price times quantity.
C. When a firm is operating under perfectly competitive market conditions, price and marginal cost will always be equal if the firm is maximizing profits.
Expert answered|farrin|Points 0|
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Asked 2/12/2013 10:32:21 PM
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Updated 333 days ago|8/30/2015 9:39:19 AM
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Added 333 days ago|8/30/2015 9:39:19 AM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by Andrew. [8/30/2015 11:24:38 AM]
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