The Figure Given Below Shows the Cost and Revenue Curves

question 91

Multiple Choice

The figure given below shows the cost and revenue curves of a monopolist.Figure 11.9
D: Average revenue
MR: Marginal revenue
ATC: Average total cost
MC: Marginal cost
-A monopolistically competitive firm's demand curve slopes downward because:

• A)new firms are free to enter the market.
• B)there are a large number of firms in the market.
• C)a differentiated product gives the firm some monopoly power.
• D)the firm has complete information about the market.
• E)the firm sells a standardized product.

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