Question

The shape of average revenue curve in monopoly is ______

विकल्प

• Upward rising

• Downward sloping

• U - shaped

• S - shaped

Answer 1

Downward sloping

Explanation:

A monopoly is a market condition in which there is only one seller, no close replacements for the commodity it produces, and barriers to new enterprises entering the market. The price is set by the monopolist himself. As a result, a monopolist is confronted with a downward sloping demand curve, indicating that more can only be sold at a lower price.