Why Does Price Equal Marginal Revenue for the Purely Competitive

question 182

Essay

Why does price equal marginal revenue for the purely competitive firm? What is the relationship to the demand curve for the firm?

---

Definitions:

Covert Positive Reinforcement

The use of positive stimuli to increase the likelihood of a desired behavior occurring, without the individual being explicitly aware of it.

Imagines

Forms a mental image or concept of something that is not present or has not yet happened.

Target Response

A specific reaction or behavior that is sought after in a particular situation or as a result of a treatment or intervention.

Self-monitoring

The action of observing and recording one's own behaviors, thoughts, or emotions, often used in behavioral therapy or self-improvement contexts.