When Demand is perfectly elastic, Marginal Revenue is identical with price.
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.
unit elastic
The change of total revenue per unit sold is known as marginal revenue. In a perfectly competitive firm, marginal revenue = marginal cost = price.
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.
unit elastic
The change of total revenue per unit sold is known as marginal revenue. In a perfectly competitive firm, marginal revenue = marginal cost = price.
To determine the method for finding marginal revenue in a perfectly competitive market, one can calculate the change in total revenue when one additional unit of output is sold. This can be done by taking the derivative of the total revenue function with respect to quantity. In a perfectly competitive market, marginal revenue is equal to the market price.
profit is maximized
Because for a perfectly competetive firm since the demand curve is perfectly elastic even a slightest price change doesnt add any further demand..so there is no change in marinal revenue also.Since revenue is demand multiplied with cost of unit..the two curves are same.
Yes, in a perfectly competitive market, the marginal revenue is equal to the price of the good for each unit sold.
If the firm operates in a perfectly competitive industry, profit is maximised at the ouput level where mc=mr.
Demand is unit elastic.
I'm thinking that marginal revenue product is the marginal revenue on one product, and marginal revenue is the marginal revenue on the whole firm sales... I'm wondering the same thing but the above response is incorrect. both terms imply values on one item as indicated by the "marginal"