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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Why is the marginal revenue curve for a perfectly competitive firm the same as its demand curve?

To determine

Explain why the marginal revenue curve of a perfectly competitive firm is the same as its demand curve.

Explanation

Under a perfect competitive firm, the price is equal to marginal revenue (P=MR). In the demand curve of a firm plot, the relationship between price and quantity is demanded

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