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Chapter 4

Can anyone explain the below point?

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Soumya A

Soumya A

CA Foundation

17K+

25-Nov-21

61

Answers (3)

It is a point under the difference between perfect competition, monopoly,monopolistic competition


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Soumya A

Soumya A

CA Foundation

17K+

25-Nov-21

In perfect competition every sellers sell their product at uniform price which is fixed by the market forces demand and supplyâ?¦so every unit of a product is sell at uniform price that's why price is equal to marginal cost in a perfect competition. Under monopoly, marginal cost = marginal revenue; but marginal revenue is less than price, therefore marginal cost is less than price. In other words, price is greater than marginal cost.


sudha reddy

sudha reddy

Moderator

2 days ago

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