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The average revenue curve of a firm in a perfect market is the same as...

Economics
WAEC 2023

The average revenue curve of a firm in a perfect market is the same as the

  • A. supply curve of the firm
  • B. average cost curve of the firm
  • C. demand curve of the firm
  • D. total revenue curve of the firm
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Correct Answer: Option C
Explanation

The average revenue curve of a firm in a perfect market is the same as the demand curve of the firm. This is because in a perfect market, the firm is a price taker, meaning that they cannot influence the market price. As a result, the firm's demand curve is also the market demand curve, and the average revenue curve is equal to the demand curve.


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts