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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Chapter
Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 10, Problem 2DQ
Textbook Problem
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Explain why a demand curve is also a curve of average revenue. Recalling that when an average revenue curve is neither rising nor falling, marginal revenue must equal average revenue, explain why it is always true that P = MR = AR for the perfectly competitive firm.

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