In perfect competition, price is equal to marginal revenue. Group of answer choicesTrueFalse
Question
Solution 1
Answer
In a perfectly competitive market, it is true that price is equal to marginal revenue.
This occurs because firms in perfect competition are price takers; they have no control over the market price and must accept it as given. Therefore, when these firms sell one more unit of output, th Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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