题目内容

Which of the following statements is correct?

A. For all firms, marginal revenue equals the price of the good.
B. Only for competitive firms does average revenue equal the price of the good.
C. Marginal revenue can be calculated as total revenue divided by the quantity sold.
D. Only for competitive firms does average revenue equal marginal revenue.

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Suppose a firm in a competitive market earned $2,000 in total revenue and had a marginal revenue of $20 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold?

A. $5 and 50 units
B. $5 and 100 units
C. $100 and 20 units
D. $20 and 100 units

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Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, the average revenue of the 200th unit will be

A. less than $12.
B. more than $12.
C. $12.
D. zero.

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Whenever a perfectly competitive firm chooses to change its level of output, its marginal revenue

A. increases if MR < ATC and decreases if MR > ATC.
B. does not change.
C. always increases.
D. always decreases.

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Suppose that in a competitive market the equilibrium price is $2.50. What is marginal revenue for the last unit sold by the typical firm in this market?

A. Less than $2.50
B. More than $2.50
C. Exactly $2.50
D. The marginal revenue cannot be determined without knowing the actual quantity sold by the typical firm.

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