Question

Statement 1: Marginal revenue curve is parallel to the x-axis.

Statement 2: The slope of the marginal revenue curve is upward sloping.

विकल्प

• Both the statements are true.

• Both the statements are false. 

• Statement 1 is true but statement 2 is false.

• Statement 1 is false but statement 2 is true.

Answer 1

Statement 1 is true but statement 2 is false.

Explanation:

In a perfectly competitive market, the marginal revenue curve is parallel to the price axis. As a result, it is parallel to the x-axis.