Because the marginal revenue faced by the firm is equal to price, revenue is also equal to price.
Question
Solution 1
This statement seems to be a bit confused. In economics, marginal revenue is the additional revenue that a firm receives from selling one more unit of a good or service. It is calculated by taking the change in total revenue and dividing it by the change in quantity.
On the other hand, price is the Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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