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see image D 1 }} When a firm is in a perfectly competitive market, its marginal revenue is O Increasing in Q O Constant O

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D 1 }} When a firm is in a perfectly competitive market, its marginal revenue is O Increasing in Q O Constant O Decreasing in Q D 1 }} A firm in a perfectly competitive market maximizes profit when O P=MR O P=AVC O MC=AC O P=MC

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