The marginal revenue curve for a monopolist is greater than the price because the monopolist faces a downward sloping demand curve for its product.Group startsTrue or False

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14-04-2022
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The marginal revenue curve for a monopolist is greater than the price because the monopolist faces a downward sloping demand curve for its product.Group startsTrue or False

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Tundexi Tundexi · Answer 1 · 2022-04-28T10:51:40+02:00

It is a false statement that the marginal revenue curve for a monopolist is greater than the price because the monopolist faces a downward sloping.

Why is it a false statement?

The situation is that the marginal revenue curve for a monopolist are always less than the price.

This is because for each additional unit of output the marginal revenue is declining its results from the downward sloping market demand curve.

Therefore, the statement given is a false statement.