Why is a firm in a perfectly competitive market called a price taker? Why do the price, MR and demand faced by a firm in such a market coincide? Explain.
Why is a firm in a perfectly competitive market called a price taker? Why do the price, MR and demand faced by a firm in such a market coincide? Explain.
Chapter7: Perefect Competition
Section: Chapter Questions
Problem 10SQP
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