Question

draw a neat and labelled diagram of revenue curve under imperfect competition​

Answer 1

Answer:

Imperfect competition covers all situations where there is neither pure competition nor pure monopoly.

The situation in the real world lies between these two extremes. Imperfect competition may take several forms.

In fact, “there is no single case of imperfect competition, but a whole range or series of cases representing progressively more and more imperfect competition.”

Explanation:

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