For a perfectly competitive firm with no market control, the marginal revenue curve is a horizontal line. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve.Yes-what you must remember is that a firm's demand curve in perfect competition is its average revenue curve.Average revenue = price x quantity / quantity = price. The demand curve shows the quantity demanded at varying prices and this is exactly what the average revenue curve will do. Answer   Because for a perfectly competetive firm since the demand curve is perfectly elastic even a slightest price change doesnt add any further demand..so there â¦ is no change in marinal revenue also.Since revenue is demand multiplied with cost of unit..the two curves are same. + 1 other found this useful.
Natural Gas is usually measured by volume and is stated in cubic feet. A cubic foot of gas is the amount of gas needed to fill a volume of one cubic foot under set conditions of pressure and temperature.To measure larger amounts of natural gas, a therm is used to denote 100 cubic feet, and mcf is used to denote 1,000 cubic feet.
Offshore Minerals. bbl, Barrel: In the energy industry, a barrel is 42 U.S. gallons measured at 60ÂºF. Casinghead Gas (or oil well gas): Natural gas produced along with crude oil from oil wells. Condensate: A low-density, high-API gravity liquid hydrocarbon phase that generally occurs in association with natural gas.