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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.
Is cigarette market a perfectly competitive market?
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.
What are the key differences between a perfectly competitive market and a non-perfectly competitive market?
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.
Which of the following could not prevent a market from becoming perfectly competitive?
excessive information
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.
Is cigarette market a perfectly competitive market?
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.
What are the key differences between a perfectly competitive market and a non-perfectly competitive market?
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.
How are prices set in a perfectly competitive market?
By Market Force
Is the used car market perfectly competitive?
no
Do perfectly competitive firms advertise?
Perfectly competitive firms would not advertise as advertising would serve no purpose. A market that is perfectly competitive exists only in theory.
What are the example of short period local perfectly competitive market?
poultry market rice market
Is stock exchange an example of perfectly competitive market?
Yes
How is a monopolist different from a perfectly competitive firm in terms of market structure and pricing behavior?
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.
