If the market price is $40 in a perfectly competitive market, what is the marginal revenue from selling the fifth unit?
Question
Solution 1
In a perfectly competitive market, the marginal revenue is equal to the market price. This is because firms are price takers and can sell as much quantity as they want at the market price. Therefore, if the market price is $40, the marginal revenue from selling the fifth unit (or any unit for that m Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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