whyMR less than ARunder Monopoly or monopolistic competition
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A monopolist’s marginal revenue is always less than or equal to the price
of the good. Marginal revenue is the amount of revenue the firm receives for
each additional unit of output. It is the difference between total revenue – price
times quantity – at the new level of output and total revenue at the previous
output (one unit less).
of the good. Marginal revenue is the amount of revenue the firm receives for
each additional unit of output. It is the difference between total revenue – price
times quantity – at the new level of output and total revenue at the previous
output (one unit less).
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