Ask Question
16 August, 01:07

For a monopolistically competitive firm, marginal revenue A. is greater than the price. B. equals the price. C. is less than the price. D. and the price are unrelate

+3
Answers (1)
  1. 16 August, 04:40
    0
    The correct answer is option C.

    Explanation:

    A monopolistic firm is a price maker. It faces a downward sloping demand curve which also reflects the average revenue or price. The profit is maximized by equating marginal revenue and marginal cost.

    The marginal revenue curve is also a downward sloping curve and it lies below the demand or average revenue curve.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “For a monopolistically competitive firm, marginal revenue A. is greater than the price. B. equals the price. C. is less than the price. D. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers