Assuming (for now) that firms charge the same price to all buyers, selling one more unit requires that the price on all units sold must be decreased. It is for this reason that for firms under imperfect competition, marginal revenue is [less/more/equal]price for quantities greater than one.
Assuming (for now) that firms charge the same price to all buyers, selling one more unit requires that the price on all units sold must be decreased. It is for this reason that for firms under imperfect competition, marginal revenue is [less/more/equal]price for quantities greater than one.
Assuming (for now) that firms charge the same price to all buyers, selling one more unit requires that the price on all units sold must be decreased. It is for this reason that for firms under imperfect competition, marginal revenue is [less/more/equal]price for quantities greater than one.
Answer
less than
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Parent (intermediate) annotation
Open it firms charge the same price to all buyers, selling one more unit requires that the price on all units sold must be decreased. It is for this reason that for firms under imperfect competition, marginal revenue is <span>less than price for quantities greater than one.<span><body><html>
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p65
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