The deep state entered Americaâs national discourse in 2017 with the feeling of an already familiar character, ready to assume a starring role as hero or villainâdepending on how you feel about Trump.
If a firm produces past that point, then marginal revenue is less than marginal cost. This means that the firm is losing profit with each additional unit of output and it should produce less. Remember that a competitive firm has a flat MR curve which is equal to the market price.
MARGINAL REVENUE. While marginal revenue is the same as price for a competitive firm, it is less than price for a monopolist. A competitive wheat farmer will take the price of wheat as given by the market at (say) $5 a bushel. Sellinganother bushel of wheat brings the farmer a marginal revenue of another $5.