Question
When AR is constant, MR is
Solution
(i) When AR is constant, it is equal to MR under perfect competition. (ii) When AR is diminishing, MR also diminishes but AR diminishes at a faster rate as in the case of monopoly and monopolistic competition
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<...The question consists of two statements numbered “I and II” given below it. You have to decide whether the data provided in the statements are suffi...
