Question: Which expression is correct for a competitive firm? Select one: a.profit = total revenue - total variable cost b.marginal revenue = (change in total revenue)

Which expression is correct for a competitive firm?

Select one:

a.profit = total revenue - total variable cost

b.marginal revenue = (change in total revenue) (change in quantity of output)

c.average revenue = total revenue marginal revenue

d.total revenue = marginal revenue + average revenue

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