WAEC Economics 2023 Objective — Question 21
Question 21 of 50 from the West African Examinations Council (WAEC) Economics 2023 Objective paper, with the correct answer and a full explanation.
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The average revenue curve of a firm in a perfect market is the same as the A. supply curve of the firm. B. demand curve of the firm. C. total revenue curve. D. average cost curve of the firm.
- A. supply curve of the firm
- B. demand curve of the firmCorrect
- C. total revenue curve
- D. average cost curve of the firm
Explanation
In a perfectly competitive market, the average revenue curve is the same as the demand curve facing the firm.
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