For a perfectly competitive firm, a decrease in the price of the product it sells will shift

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In a perfectly competitive market, a decrease in the product price would not shift the firm's demand curve since the firm is a price taker and faces a perfectly elastic demand at the market price. However, it would shift the Marginal Revenue Product (MRP) curve to the left because the MRP is dependent on the product price, and a lower price means each additional unit of output generates less revenue.

For a Perfectly Competitive Firm, a Decrease in the Price