Which one of the following statements is incorrect? Under perfect competition * A. MARGINAL REVENUE IS ALWAYS EQUAL TO THE PRICE OF THE PRODUCT. * B. AVERAGE REVENUE IS ALWAYS EQUAL TO THE PRICE OF THE PRODUCT. * C. AVERAGE REVENUE IS ALWAYS EQUAL TO MARGINAL REVENUE. * D. MARGINAL REVENUE IS ALWAYS EQUAL TO MARGINAL COST.

/in /by

Which one of the following statements is incorrect? Under perfect
competition

* A. MARGINAL REVENUE IS ALWAYS EQUAL TO THE PRICE OF THE PRODUCT.
*  B. AVERAGE REVENUE IS ALWAYS EQUAL TO THE PRICE OF THE PRODUCT.
*  C. AVERAGE REVENUE IS ALWAYS EQUAL TO MARGINAL REVENUE.
*  D. MARGINAL REVENUE IS ALWAYS EQUAL TO MARGINAL COST.

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