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Munch Cakes are identical to the cakes sold by many other firms in Jeddah. There is free entry in the cakes baking market. Buyers and
Munch Cakes are identical to the cakes sold by many other firms in Jeddah. There is free entry in the cakes baking market. Buyers and sellers are well informed about prices.
(a)In what type of market does Munch's operate?
(b)What determines Munch's marginal revenue of Cakes
(c)If cakes sell for SAR 100 a box and Munch offers its cakes for sale at SAR95.0 a box, how many boxes does it sell?
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