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What else can I help you with?
Does the price equal the marginal revenue in a competitive market?
In a competitive market, the price does equal the marginal revenue.
Is marginal revenue equal to price in a perfectly competitive market?
In a perfectly competitive market, marginal revenue is equal to price.
Is the price equal to marginal revenue in a perfectly competitive market?
In a perfectly competitive market, the price is equal to the marginal revenue.
Does marginal revenue equal price in a perfectly competitive market?
Yes, in a perfectly competitive market, marginal revenue equals price.
Why is the equality of marginal revenue to marginal cost essential to profit maximuzation in all of the market structures?
When Marginal Cost is below Marginal Revenue, profit is increasing. When Marginal Cost is above Marginal Revenue, profit is decreasing. Since the goal of firms is to maximise profit, they should produce at a level where the MR of producing another unit is equal to the Marginal Cost of producing another unit. Firms should keep producing until this point because there is a hidden profit in MC. This is because we are not taking into account the Accounting profit.
If the market price for a chair is 24 and the marginal cost for the chair is 7 the marginal revenue from the chair would be .?
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How is market failure cause environmental degradation?
It is when the private marginal benefits or costs are not equal to social marginal benefits cost. Therefore, result could be likely market failure.
The equality of marginal revenue and marginal cost is essential for profit maximization in all market structures because if?
Marginal revenue and marginal cost are equal, any other output level will result in reduced profit.
What is another name for Free Market System?
Second Market.
What another name for free market system?
Second Market.
What is the relationship between price and marginal revenue in a competitive market?
In a competitive market, the relationship between price and marginal revenue is that they are equal. This means that the price of a good or service is equal to the marginal revenue generated from selling one more unit of that good or service.
Is capitalism market economy?
The Market Economy is another name for Capitalism.
