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Q: 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.
A: 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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Questions asked by the same visitor
Which of the following is not a central focus of the "economic perspective"? A. Scarcity and choice. B. The scientific method. C. Purposeful behavior. D. Marginal analysis.
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Updated 8/30/2015 9:39:19 AM
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The scientific method is not a central focus of the "economic perspective".

Added 8/30/2015 9:39:19 AM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [8/30/2015 11:24:38 AM]
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