With a downward-sloping demand curve, why is average revenue equal to price? Why is marginal revenue less

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With a downward-sloping demand curve, why is average revenue equal to price? Why is marginal revenue less than price?

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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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Question Posted: Nov 01, 2017 07:14 AM

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With a downward-sloping demand curve, why is average revenue equal to price? Why is marginal revenue less

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Average revenue is equal to total revenue divided by quantity Because total revenue is price mult...View the full answer

Economics

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