{"id":106377,"date":"2022-01-26T09:26:16","date_gmt":"2022-01-26T09:26:16","guid":{"rendered":"https:\/\/essayparlour.com\/paperhelp\/?p=106377"},"modified":"2022-01-26T09:26:16","modified_gmt":"2022-01-26T09:26:16","slug":"in-the-chapter-we-noted-that-the-marginal-revenue-a","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/business-economics-2\/in-the-chapter-we-noted-that-the-marginal-revenue-a\/","title":{"rendered":"In the chapter, we noted that the marginal revenue a"},"content":{"rendered":"<table style = 'table-striped table-bordered table-hover' responsive='true'>\n<tr>\n<th>Question<\/th>\n<\/tr>\n<tr>\n<td>In the chapter, we noted that the marginal revenue a seller receives can be expressed as MR = P + (?P\/?Q) \u00d7 Q.<br \/>\n a. Using this formula as a starting point, show that marginal revenue can be expressed as MR = P(1 + 1\/ ED), where ED is the price elasticity of demand.<br \/>\n b. Using your knowledge about the price elasticity of demand, explain why the marginal revenue a firm with market power receives must always be less than the price.<br \/>\n c. Using your knowledge of the price elasticity of demand, explain why the marginal revenue a perfectly competitive firm receives must be equal to the price.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<\/p>\n<p>\nIn the chapter, we noted that the marginal revenue a seller receives can be expressed as MR = P + (?P\/?Q) \u00d7 Q.<br \/>\n a. Using this formula as a starting point, show that marginal revenue can be expressed as <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-106377","post","type-post","status-publish","format-standard","hentry","category-business-economics-2"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=106377"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106377\/revisions"}],"predecessor-version":[{"id":106378,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106377\/revisions\/106378"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=106377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=106377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=106377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}