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Basic Question 2 of 29

For price takers, ______

I. price equals marginal revenue.
II. marginal revenue equals total revenue.
III. price equals total revenue.
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User Contributed Comments 1

User Comment
Yass0707 TR=P*Q
for price taker - any Q at same P
TR incrasing by P
so MR (marginal revenu or increasing in one more unit) is equal to P
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Edward Liu

Edward Liu

Learning Outcome Statements

determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition

CFA® 2024 Level I Curriculum, Volume 1, Module 1.