1 what is a perfectly competitive market2 what is marginal, Ask an Expert

Economics

1) What is a perfectly competitive market?

2) What is marginal revenue? How is it related to total and average revenue?

3) How does competitive firm determine the quantity that maximizes profit?

4) When might a competitive firm shut down in the short run? Exit the market in the long run?

5) What does the market supply curve look like in the short run? In the long run?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91234045

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