In a perfectly competitive market,marginal revenue is the same as the market price.

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Quizplus · Accepted Answer

In a perfectly competitive market, there are many identical sellers and buyers and the market price is determined solely by the supply and demand forces. As a result, each firm can sell as much as they want at the market price, which means that the marginal revenue earned from selling an additional unit of output is the same as the market price. Therefore, in a perfectly competitive market, marginal revenue is equal to the market price.

In a Perfectly Competitive Market,marginal Revenue Is the Same as the Market