Explain why marginal revenue is equal to the market price, Microeconomics

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Explain why marginal revenue is equal to the market price

Problem

Briefly explain why marginal revenue is equal to the market price for a firm in a perfectly competitive market but is less than the current market price for a firm in an imperfectly competitive market.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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