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Basic Question 2 of 29

For price takers, ______

I. price equals marginal revenue.
II. marginal revenue equals total revenue.
III. price equals total revenue.
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User Contributed Comments 1

User Comment
Yass0707 TR=P*Q
for price taker - any Q at same P
TR incrasing by P
so MR (marginal revenu or increasing in one more unit) is equal to P
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Learning Outcome Statements

determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition

CFA® 2025 Level I Curriculum, Volume 1, Module 1.