In perfect competition, firms are price takers, leading to a horizontal demand curve for the firm, and thus MR = AR = Price.
In a perfectly competitive market, - marginal revenue is zero. - marginal revenue is equal to average revenue. - marginal revenue is less than average revenue. - marginal revenue is more than average revenue
Asked in Asst. Statistical Officer 1 · Topic: Nature of Indian Economy (Sectoral Composition and Structural Transformation)
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