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Question Practice

Under perfect competition, what is the relationship between price and marginal revenue for a firm?

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

Under perfect competition, wha...

Single Answer MCQ
Q-00089530

Under perfect competition, what is the relationship between price and marginal revenue for a firm?

1

Price is always less than marginal revenue

2

Price is equal to marginal revenue

3

Marginal revenue is irrelevant in perfect competition

4

Price is greater than marginal revenue

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

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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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