Q1404
Marginal cost is equal to marginal revenue, average cost is equal to average revenue, average revenue is equal to marginal revenue and average cost is equal to marginal cost. This is the condition of 1. long period equilibrium for a firm under monopoly 2. short period equilibrium for a firm under oligopoly 3. long period equilibrium 4. long period equilibrium for a firm under perfect competitions Select the correct answer
A.
Both 1 and 4
B.
Both 3 and 4
AnswerC.
Both 3 and 1
D.
Only 1
Answer: Option B
Solution
Answer: Option B
No explanation is given for this question Let's Discuss on Board