{"id":49638,"date":"2024-04-15T22:58:41","date_gmt":"2024-04-15T22:58:41","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=49638"},"modified":"2024-04-15T22:58:41","modified_gmt":"2024-04-15T22:58:41","slug":"assertion-a-a-monopoly-firms-revenue-curve-is-downward-sloping-from-left-to-right-reason-r-the-monopoly-firm-does-not-simultaneously-enjoy-the-freedom-to-determine-both-price-and-quantity-to-be","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/assertion-a-a-monopoly-firms-revenue-curve-is-downward-sloping-from-left-to-right-reason-r-the-monopoly-firm-does-not-simultaneously-enjoy-the-freedom-to-determine-both-price-and-quantity-to-be\/","title":{"rendered":"Assertion (A) A monopoly firm&#8217;s revenue curve is downward sloping from left to right. Reason (R) The monopoly firm does not simultaneously enjoy the freedom to determine both price and quantity to be sold according to its whims and fancy."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a97e19d43615\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Both (A) and (R) are true                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Both (A) and (R) are false                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    (A) is true, but (R) is false                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    (A) is false, but (R) is true                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>C. (A) is true, but (R) is false<\/strong><\/p>\n<p>A monopoly firm&#8217;s revenue curve is downward sloping from left to right because the firm faces a downward-sloping demand curve. This means that if the firm wants to sell more units, it must lower its price. However, the reason for this is not because the monopoly firm does not simultaneously enjoy the freedom to determine both price and quantity to be sold according to its whims and fancy. In fact, a monopoly firm does have this freedom. The reason why the firm&#8217;s revenue curve is downward sloping is because of the law of demand, which states that consumers will demand less of a good or service as the price of that good or service increases.<\/p>\n<p>Here is a more detailed explanation of each option:<\/p>\n<ul>\n<li><strong>A. Both (A) and (R) are true<\/strong>. This is not the correct answer because (R) is false. A monopoly firm does <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> simultaneously enjoy the freedom to determine both price and quantity to be sold according to its whims and fancy.<\/li>\n<li><strong>B. Both (A) and (R) are false<\/strong>. This is not the correct answer because (A) is true. A monopoly firm&#8217;s revenue curve is downward sloping from left to right.<\/li>\n<li><strong>C. (A) is true, but (R) is false<\/strong>. This is the correct answer because (A) is true and (R) is false. A monopoly firm&#8217;s revenue curve is downward sloping from left to right, but this is not because the monopoly firm does not simultaneously enjoy the freedom to determine both price and quantity to be sold according to its whims and fancy.<\/li>\n<li><strong>D. (A) is false, but (R) is true<\/strong>. This is <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> not the correct answer because (A) is true. A monopoly firm&#8217;s revenue curve is downward sloping from left to right.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Assertion (A) A monopoly firm&#039;s revenue curve is downward sloping from left to right. 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