Economy, asked by gangmeithomas20, 2 months ago

draw AR and MR diagram of perfect compition and Monopoly market with table

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Answered by anushacm06

0

Answer:

A firm, under perfect competition, behaves as a ‘price-taker’ in the sense that no single firm can influence the price of the product. Under this situation, the TR curve is a rising straight line from the origin. TR rises in direct proportion to output. The TR curve has been drawn in Fig. 3.32 whose slope is the given price in the market.

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