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If the market price is $25 in a perfectly competitive market, the marginal revenue from selling the fifth unit is

User Saad Ahmed
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1 Answer

5 votes

Answer:

the marginal revenue from selling the fifth unit is

$25

Step-by-step explanation:

Perfect competition is market structure in which the following information:

All firms sell an identical product .

All firms are price takers , cannot influence the market price .

Market share has no influence on prices.

Buyers have complete informationabout the product being sold and the prices .

Resources for such a labor are perfectly mobile.

Firms can enter or exit the market without cost

User David Lowenfels
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