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Math Help - Micro economics-perfect competition

  1. #1
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    Micro economics-perfect competition

    Explain why the the relationship between Marginal revenue and Price differ between perfect competition and monopoly?

    Identify a significant effect for pricing strategy of this relationship of P and MR in the 2 markets.
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  2. #2
    Junior Member
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    In perfect competition, price is fixed and independent of the level of production of any given supplier. In the case of a monopoly, the price will vary with the quantity produced.
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