We consider that the satellite has time period equal to earth's rotational period, because of equal magnitude of orbital velocity, if that is so, it's at rest relative to earth's rotational motion which carries along the atmosphere at the same velocity so there must have been no air resistance being acted upon the geostationary satellite.
closed as unclear what you're asking by John Rennie, M. Enns, Jon Custer, honeste_vivere, Qmechanic♦ Aug 25 '17 at 16:45
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If the satellite rotates the earth in 24 hours, then it is in a so called geostationary (or geosynchronous) orbit. Such an orbit is circular and has an altitude of nearly 36,000 km above the equator. There is very little atmosphere at that height.
More of an issue is the effects of lunar and solar gravity and the fact that the earth isn't an exact sphere. To counter these effects, orbital corrections are required periodically. The satellites have onboard propulsion systems to achieve this.