Yes
poultry market rice market
In a perfectly competitive market, marginal revenue is equal to price.
In a perfectly competitive market, the price is equal to the marginal revenue.
Yes, in a perfectly competitive market, marginal revenue equals price.
There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
poultry market rice market
You need these people in order to sell products. Money needs to exchange hands in order to be competitive.
In a perfectly competitive market, marginal revenue is equal to price.
In a perfectly competitive market, the price is equal to the marginal revenue.
Yes, in a perfectly competitive market, marginal revenue equals price.
There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
In a perfectly competitive market, there are many buyers and sellers, products are identical, and there is easy entry and exit. Prices are determined by supply and demand. In a non-perfectly competitive market, there may be barriers to entry, products are differentiated, and firms have some control over prices.
By Market Force
no
Perfectly competitive firms would not advertise as advertising would serve no purpose. A market that is perfectly competitive exists only in theory.
A monopolist is a single seller in the market, while a perfectly competitive firm is one of many sellers. A monopolist has the power to set prices, while a perfectly competitive firm is a price taker and must accept the market price. This difference in market structure leads to monopolists typically charging higher prices and producing less output compared to perfectly competitive firms.
An increase in demand in a perfectly competitive market will lead to an increase in revenue for the business. The more they sell the more they will make.