1.If a firm is a price taker, then its marginal revenue will always equal

Hint: What is the definition of MR, especially for a firm in perfect competition?

A.average variable costs

B.zero.

C.price.

D.total cost.

2.A market with few entry barriers and with many firms that sell differentiated products is

A.purely competitive.B.oligopolistic.C.monopolistically competitive.D.a monopoly.

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