Sunday, August 7, 2011

Microeconomics-Price Taker/Searchers?

If you understand the definition then maybe you only need a hint. This question is about marginal revenue. What is the MR of a price taker? What is the MR of a price searcher? Draw the curves. In the first question, MR is the same as .... ? In the second, you draw MR by .........? Draw demand (in a price taker D = P). Draw MR. Draw MC. Now answer the question.

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