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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.
What will be the elasticity when marginal revenue is zero?
unit elastic
What is a change to the total revenue resulting from the sale of one more unit of output in aa perfectly competitive from?
The change of total revenue per unit sold is known as marginal revenue. In a perfectly competitive firm, marginal revenue = marginal cost = price.
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.
What will be the elasticity when marginal revenue is zero?
unit elastic
What is a change to the total revenue resulting from the sale of one more unit of output in aa perfectly competitive from?
The change of total revenue per unit sold is known as marginal revenue. In a perfectly competitive firm, marginal revenue = marginal cost = price.
How can one determine the method for finding marginal revenue in a perfectly competitive market?
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.
Why is the demand curve the same as the marginal revenue curve for a perfectly competitive firm?
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.
What happens when marginal revenue equals marginal cost?
profit is maximized
Is it true that in a perfectly competitive market, the marginal revenue is equal to the price of the good for each unit sold?
Yes, in a perfectly competitive market, the marginal revenue is equal to the price of the good for each unit sold.
Why is marginal revenue always less than price for a monopolist but equal to price for a perfectly competitive firm?
Marginal revenue is always less than price for a monopolist because, in order to sell additional units, the monopolist must lower the price on all units sold, resulting in a decrease in revenue from previous units. In contrast, a perfectly competitive firm is a price taker and can sell additional units at the market price without affecting the price of its product, so marginal revenue equals the market price. Thus, monopolists face a downward-sloping demand curve, while perfectly competitive firms face a perfectly elastic demand curve.
Marginal cost equals marginal revenue?
If the firm operates in a perfectly competitive industry, profit is maximised at the ouput level where mc=mr.
When a firm's marginal revenue is zero what can be said about the elasticity of demand for the output of the firm A. Demand is inelastic. B. Demand is elastic. C. Demand is unit elastic.?
Demand is unit elastic.
