Question

For a perfectly competitive firm, marginal revenue is equal to

variable cost
TR x FC
TR + VC
the market price of the product
GPT-4o mini
For a perfectly competitive firm, marginal revenue is equal to **the market price of the product**. In a perfectly competitive market, firms are price takers and must accept the market price for their goods. As a result, the additional revenue generated from selling one more unit (marginal revenue) is equal to the price at which that unit is sold.

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