Question

Assertion(A): Under monopoly, AR and MR
curves are less elastic than monopolistic
competition. Reason(R): In a monopolistic
competitive market, goods have close substitutes.

a)Both A and R is true and R is the correct explanation
of A.
b)Both A and R is true but R is not correct explanation
of A.
c)A is true but R is false.
d)A is false but R is true

Answer 1

option b ( both A and R is true R is not a correct explanation..)