In July 2024
Answer to Question #288342 in Microeconomics for Eiler
For a price taker P=MR. True or false
True
In economics, a price taker is a market participant who is unable to dictate the prices in a market. Since the price in a price taker market is constant, the marginal revenue would be the same as the price. Therefore, it is true to say that for a price taker, P=MR.
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