The Figure Given Below Shows the Revenue and Cost Curves

question 11

Multiple Choice

The figure given below shows the revenue and cost curves of a firm. MC represents the marginal cost curve, AC the average cost curve, MR the marginal revenue curve, and AR the average revenue curve.Figure 9.4

-In general, the two extreme cases of market structure models are represented by:

• A)monopolistic competition and oligopoly.
• B)oligopoly and monopoly.
• C)oligopoly and perfect competition.
• D)perfect competition and monopoly.
• E)perfect monopoly and oligopolistic competition.

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