Question

In which market is AR equal to MR ?

Answer 1

Perfect Competition. The condition that price equals both average revenue and marginal revenue (P = AR = MR) is the standard condition for a perfectly competitive firm. This condition means that a firm is a price taker with no market control and faces a perfectly elastic demand curve equal to the market price.

Answer 2

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The condition that price equals both average revenue and marginal revenue (P = AR = MR) is the standard condition for a perfectly competitive firm. This condition means that a firm is a price taker with no market control and faces a perfectly elastic demand curve equal to the market price.


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