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If this cruise line faces a perfectly competitive market, calculate its net revenue would it be mr=mc * Q= net rev?

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Perfect Competition

Section: Chapter Questions

Problem 15QP

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Question

If this cruise line faces a perfectly competitive market, calculate its net revenue

would it be mr=mc * Q= net rev?

Definition Definition Structure of the market that exists when many buyers and sellers exchange similar commodities and prices are fixed by market forces, demand, and supply. When there is perfect competition, a single business cannot impact the price or market value of the homogenous product.

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