explain the realtion between total revenue and marginal revenue under perfect competition.use diagram
Answers
Under perfect competition, the demand curve facing an individual firm is perfectly elastic and the price is beyond the control of a firm, average revenue remains constant. If the price or average revenue remains the same when extra units of a product are sold, the marginal revenue will be equal to average revenue.
HOPE IT WILL HELP YOU......❤️❤️
realtion between total revenue and marginal revenue under perfect competition. realtion between total revenue and marginal revenue under perfect competition. realtion between total revenue and marginal revenue under perfect competition. realtion between total revenue and marginal revenue under perfect competition. realtion between total revenue and marginal revenue under perfect competition. realtion between total revenue and marginal revenue under perfect competition.