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Write one relation between Marginal revenue and Average revenue in perfect competition and imperfect competition?
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Write one relation between Marginal revenue and Average revenue in per...
In  perfect competition ---average revenue is equal to marginal revenue, as a single price, the ruling market price, is charged for all units sold by firms.
A firm under imperfect competition such as under monopoly can sell more only by lowering its price. Therefore, theaverage revenue curve is downward sloping and its correspondingmarginal revenue curve lies below it.
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Write one relation between Marginal revenue and Average revenue in perfect competition and imperfect competition?
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