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?

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Definitions:

Bowman's Capsule

A sac resembling a cup located at the start of the nephron’s tubular part in the kidney, which carries out the initial process of filtering blood to produce urine.

Capillaries

The smallest blood vessels in the body that connect arteries and veins, facilitating the exchange of water, oxygen, carbon dioxide, and many other nutrients and waste substances between blood and the tissues of the body.

Bowman's Capsule

A part of the nephron in the kidney that encloses the glomerulus and where blood filtration begins.

Renal Corpuscle

A component of the nephron in the kidney responsible for the filtration of blood to form urine.