The tables below show the price and quantity demanded for a perfectly competitive firm and a...

 

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The tables below show the price and quantity demanded for a perfectly competitive firm and a non-price discriminating imperfectly competitive firm. Fill in the tables and complete the following. Firm B: Imperfect Competition Firm A: Perfect Competition Price Quantity Total Marginal Demanded Revenue Revenue Price Quantity Total Marginal Demanded Revenue. Revenue $12 0 $20 0 $12 1 $18 1 $12 2 $16 2 $12 3 $14 3 $12 4 $12 4 $12 5 $10. 5 $12 6 $8 6 1. Draw the demand and marginal revenue for Firm A * 2. Draw the demand and marginal revenue for Firm B* 3. Explain the difference between being a "price taker" and being a "price The tables below show the price and quantity demanded for a perfectly competitive firm and a non-price discriminating imperfectly competitive firm. Fill in the tables and complete the following. Firm B: Imperfect Competition Firm A: Perfect Competition Price Quantity Total Marginal Demanded Revenue Revenue Price Quantity Total Marginal Demanded Revenue. Revenue $12 0 $20 0 $12 1 $18 1 $12 2 $16 2 $12 3 $14 3 $12 4 $12 4 $12 5 $10. 5 $12 6 $8 6 1. Draw the demand and marginal revenue for Firm A * 2. Draw the demand and marginal revenue for Firm B* 3. Explain the difference between being a "price taker" and being a "price

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1 Firm A Perfect Competition In perfect competition the firm is a price taker which means it has no control over the market price The demand curve for ... View the full answer