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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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