Economics
WAEC 2021
The relationship between the marginal revenue (MR) and the average revenue(AR) of a monopolist is that the marginal revenue curve____
-
A.
is above the average revenue curve
-
B.
slopes down to the right and is below the AR curve.
-
C.
and the AR curve are downward sloping and are identical.
-
D.
is vertical while the average revenue curve is horizontal.
Correct Answer: Option B
Explanation
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