The Figure Given Below Shows the Revenue and Cost Curves

question 64

Multiple Choice

The figure given below shows the revenue and cost curves of a monopolistically competitive firm.Figure 12.4
MR: Marginal revenue curve
ATC: Average total cost curve
MC: Marginal cost curve
-Oligopoly can arise from:

• A)diseconomies of scale in production.
• B)limited demand for a product in the market.
• C)government regulations.
• D)easy availability of the crucial inputs.
• E)reduction of trade barriers.

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Definitions:

Uniformed Services

The various organizations where members are required to wear a prescribed uniform, including military branches and other government service branches.

Employment Act

Legislation aimed at regulating labor practices, setting minimum wages, working conditions, and protecting workers' rights.

Favorable Treatment

The act of giving preferential consideration or benefits to a particular party or group.

Disparate-Treatment Discrimination

A form of discrimination where individuals are treated differently based on prohibited factors such as race, gender, age, or religion, in a way that is not justified by legitimate business needs.