{"id":58933,"date":"2024-04-16T01:28:14","date_gmt":"2024-04-16T01:28:14","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=58933"},"modified":"2024-04-16T01:28:14","modified_gmt":"2024-04-16T01:28:14","slug":"in-all-forms-of-imperfect-competition-the-average-revenue-curve-facing-the-individual-slopes","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/in-all-forms-of-imperfect-competition-the-average-revenue-curve-facing-the-individual-slopes\/","title":{"rendered":"In all forms of imperfect competition, the average revenue curve facing the individual slopes"},"content":{"rendered":"

[amp_mcq option1=”upward” option2=”downward” option3=”parallel to X-axis” option4=”vertically” correct=”option2″]<\/p>\n

The correct answer is: B. downward<\/strong>.<\/p>\n

In all forms of imperfect competition, the average revenue curve facing the individual firm slopes downward. This is because the firm can charge a higher price for its product if it produces a smaller quantity. As the firm produces more, the price it can charge will fall, because there will be more competition from other firms.<\/p>\n

Option A is incorrect because the average revenue curve facing the individual firm slopes downward, not upward.<\/p>\n

Option C is incorrect because the average revenue curve facing the individual firm is not parallel to the X-axis. It slopes downward.<\/p>\n

Option D is incorrect because the average revenue curve facing the individual firm is not vertical. It slopes downward.<\/p>\n","protected":false},"excerpt":{"rendered":"

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