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WAEC Economics 1999 Question 15

Question 15

Market Structures

The marginal revenue curve of a monopolist is

  1. A.upward sloping from right to left
  2. B.downward sloping from right to left
  3. C.parallel to the quantity axis
  4. D.downward sloping from left to right
Show the answer and explanation

Answer: D (downward sloping from left to right)

Explanation

A monopolist must lower price to sell more, so its MR curve slopes downward from left to right (below the demand curve).