The short-run equilibrium in a perfectly competitive market requires that?
ECONOMICS
JAMB 2000
The short-run equilibrium in a perfectly competitive market requires that?
- A. marginal cost be equal to total revenue
- B. marginal cost and marginal revenue be equal
- C. costs are mutually determined by buyers and sellers
- D. the marginal cost curve cuts the total cost curve
Correct Answer: B. marginal cost and marginal revenue be equal
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