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Business Economics – Monopolies SESSION 5 AND 6 Profit Max for a Price Taker the firm can sell as much as it wants at the prevailing market price P1 and MR = P1 at any chosen output level. The firm’s own demand curve is effectively horizontal (perfectly elastic) at the prevailing market price AR =.
Related Essay Topics:
Fair Profit MaximizationFirm’S Own Demand CurvePrevailing Market Price P1Price Takers