Marginal revenue product curve is called:
(i) Demand curve of firm
(ii) Supply curve of firm
(iii) Demand curve of industry
(iv) Supply curve of industry
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1
Answer:
The marginal revenue curve is a horizontal line at the market price, implying perfectly elastic demand and is equal to the demand curve. Under monopoly, one firm is a sole seller in the market with a differentiated product.
CORRECT OPTION IS (IV):)
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0
Answer:
(ii) Supply curve of firm
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