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For an imperfectly competitive firm: Multiple Choice O total revenue is a straight, upward sloping line because a firm's sales are independent of product price. O the marginal revenue curve lies above the demand curve because any reduction in price applies to all units sold.O the marginal revenue curve lies below the demand curve because any reduction in price applies only to the extra unit sold all units sold. O the marginal revenue curve lies below the demand curve because any reduction in price applies to all units sold.

Respuesta :

For an imperfectly competitive firm the marginal revenue curve lies below the demand curve because any reduction in price applies to all units sold.

What is marginal revenue?

The cost of a further item sold is included in the margin of profit. A business divides the change in its total income by the change in its total output quantity to determine its marginal revenue. The selling price of one extra item that was sold makes up marginal revenue.

The increased total revenue produced by increasing product sales by one unit is known as marginal revenue, a key notion in microeconomics. The increase in revenue that happens as a result of selling one more unit of output is known as marginal revenue. Even though marginal revenue can remain constant above a certain level of output, it will eventually begin to decline as the output level rises due to the law of diminishing returns.

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