The marginal revenue curve of a monopolist is
ECONOMICS
WAEC 1999
The marginal revenue curve of a monopolist is
- A. upward sloping from the right to left
- B. downward sloping from left to right
- C. paralell to the quantity axis
- D. downward sloping from right to left
Correct Answer: B. downward sloping from left to right
Explanation
The marginal revenue curve for the monopoly firm is downward sloping from left to right and lies below the market demand curve. It shows the additional revenue the monopolist gained from selling an additional unit.
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