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Wk 4 - Apply: Summative Assessment: The Microeconomics of Product . . . i The marginal revenue curve faced by a perfectly competitive firm 6
Wk Apply: Summative Assessment: The Microeconomics of Product
i
The marginal revenue curve faced by a perfectly competitive firm
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lies below the firm's demand curve.
is downward sloping, because price must be reduced to sell more output.
is horizontal at the market price.
has all of these characteristics.
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