The Following Figure Shows Revenue and Cost Curves of a Monopolist

question 42

Multiple Choice

The following figure shows revenue and cost curves of a monopolist. Figure 24.8 AR: Average revenue curve
MR: Marginal revenue curve
MC: Marginal cost curve
According to Figure 24.7, what will be the price charged by a perfectly competitive firm?

• A)P₄
• B)P₃
• C)P₂
• D)P₁

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