Multiple Choices
(Choose 1 answer)
(17471) Suppose that a firm operating in a perfectly competitive market sells 400 units c of $4 each. Which of the following statements is correct?
(i) Marginal revenue equals $4.ii) Average revenue equals $100.
( (iii) Total revenue equals $1,600.
A. (i) only
B. (iii) only
C. (i) and (iii) only
D. (i), (ii), and (iii)
