New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    For a monopoly firm, which of the following equalities

    is always true?
    A Price = average revenue Correct Answer Incorrect Answer
    B Price = marginal revenue Correct Answer Incorrect Answer
    C Price = total revenue Correct Answer Incorrect Answer
    D Marginal revenue = marginal cost Correct Answer Incorrect Answer

    Solution

    Total Revenue = P*Q Average Revenue = TR/Q = P*Q /P = Price.

    Practice Next