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Jhaime Srichandr
on Dec 12, 2024

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In a competitive price-searcher market, the marginal revenue of the firm will always be

A) a horizontal line.
B) greater than price.
C) less than price.
D) equal to price.

Marginal Revenue

The revenue gain from selling one more unit of a good or service.

Competitive Price-searcher

A model where firms set their own prices due to product differentiation and face a downward-sloping demand curve, unlike in perfect competition.

Horizontal Line

A straight line that moves left to right (or right to left) on a graph and has a slope of zero, indicating no change in the variable it measures.

  • Gain an understanding of the nature and conduct of businesses in competitive price-searcher settings.
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Romalyn VergaraDec 14, 2024
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