Answered: In perfect competition, marginal…

In perfect competition, marginal revenue Group of answer choices increases as more is sold. decreases as more is sold. is equal to the market price. is zero. is always greater than marginal cost.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 9SQ

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Question

100%

In perfect competition, marginal revenue

Group of answer choices

increases as more is sold.

decreases as more is sold.

is equal to the market price.

is zero.

is always greater than marginal cost.

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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