In case of monopoly
A). Marginal revenue curve always slopes upward
B). Total revenue curve always slopes upward
C). Marginal revenue is always equal to average revenue
D). Marginal revenue is always less than average revenue
Marginal revenue is always less than average revenue
In case of monopoly, Marginal revenue is always less than average revenue. A monopolist's marginal revenue is always less than or equal to the price of the good. Marginal revenue is the amount of revenue the firm receives for each additional unit of output.
3. Which one is increasing function of price?
4. Question 7:What is the law of diminishing marginal product?
5. If the price of good A increases relative to the price of substitutes B and C, the demand for
6. Question 3:What is a variable? Distinguish between a discrete and a continuous variable.
8. In perfect competition _____.
9. In which of the following market forms a firm does not exercise control over price?
10. Question 13:Examine the role of education in the economic development of a nation.