I need the answer as soon as possible 19. In case of monopolyA. O Marginal revenue curve always slopesupwardB. O Total revenue curve always slopesupwardC. O Marginal revenue is always equal toaverage revenueD. O Marginal revenue is always less thanaverage revenue

Monopoly is an imperfect market structure that has the least level of competition as there is only…

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-In case of monopoly

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Monopoly

Section: Chapter Questions

Problem 3QR

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

I need the answer as soon as possible

19. In case of monopoly
A. O Marginal revenue curve always slopes
upward
B. O Total revenue curve always slopes
upward
C. O Marginal revenue is always equal to
average revenue
D. O Marginal revenue is always less than
average revenue

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