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Question Practice

In the context of perfect competition, what is the relationship between price and average revenue (AR)?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
The Theory Of The Firm Under P...
Question Bank

In the context of perfect comp...

Single Answer MCQ
Q-00089498

In the context of perfect competition, what is the relationship between price and average revenue (AR)?

1

AR is always lower than price

2

AR equals price

3

AR is higher than price

4

None of the above

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Which of the following is NOT a characteristic of perfect competition?

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Q3.

In a perfectly competitive market, what is the behavior of consumers?

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Q4.

What ensures that firms in perfect competition produce identical products?

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