This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: As a result of this the demand curve of a monopolist is downward sloping. This has been shown in Figure 40. DD in the figure is the Demand or Average Revenue curve of a monopolist. When the Average Revenue curve falls, the corresponding Marginal Revenue curve also falls and is below the AR curve. The usual law about the behavior of average and marginal quantities governs such a relation between AR and MR....
View Full Document
This note was uploaded on 11/26/2011 for the course EC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10