Solved: Sellers in a purely competitive market, Microeconomics

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Sellers in a purely competitive market

Question:

Why is it that for sellers in a purely competitive market, the price received for each item equals the marginal revenue, while for sellers in imperfectly competitive markets the price received for their product is greater than the marginal revenue?

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Microeconomics: Sellers in a purely competitive market

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Microeconomics: Sellers in a purely competitive market

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