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10 cards from this deck
Can influence both price and quantity
Average revenue (AR) curve
Always lies below the demand (AR) curve
AR=TRQ=PAR = \frac{TR}{Q} = PAR=QTR=P
Where MC = MR
Marginal revenue equals zero (MR = 0)
Price setter (or price maker)
AC curve lies above demand curve
Can make economic profit
Few large firms control most market supply
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