Perfect Competition = Pure Competition
-> Perfectly Elastic (Horizontal)
-> Price-Taker : No market power
-> Demand Curve = Price = Marginal Revenue = Average Revenue
-> MC = MR : profit maximizing
Perfect Competition = Pure Competition
-> Perfectly Elastic (Horizontal)
-> Price-Taker : No market power
-> Demand Curve = Price = Marginal Revenue = Average Revenue
-> MC = MR : profit maximizing
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