For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to [...].
Answer
the market price of a single unit sold, or AR = MR = price
For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to [...].
For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to [...].
Answer
the market price of a single unit sold, or AR = MR = price
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Open it For a firm in a perfectly competitive market, all units are sold at the same price regardless of quantity, so that average revenue and marginal revenue are both equal to the market price, or AR = MR = price.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p64
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