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      Question

      For a monopoly firm, which of the following equalities

      is always true?┬а
      A Price = average revenue Correct Answer Incorrect Answer
      B Price = marginal revenue Correct Answer Incorrect Answer
      C Price = total revenue Correct Answer Incorrect Answer
      D Marginal revenue = marginal cost Correct Answer Incorrect Answer
      E Price = Average Cost Correct Answer Incorrect Answer

      Solution

      Total Revenue = P*Q Average Revenue = TR/Q = P*Q /Q = Price.

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