For a perfectly competitive firm, price is identical to marginal revenue at every quantity.

Name: For a perfectly competitive firm, price is identical to marginal revenue at every quantity.
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Quizplus · Accepted Answer

This is because in a perfectly competitive market, there are numerous buyers and sellers, and each firm is a price taker, meaning they cannot influence the market price. Therefore, the firm's demand curve is perfectly elastic and its marginal revenue curve is equal to the price at all quantities.

For a Perfectly Competitive Firm, Price Is Identical to Marginal