Under monopoly ,tr curve increases only at a diminishing rate
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True. TR curve increases only at a diminishing rate because a monopolist can sell more only if he lowers the price of his product. Accordingly, MR tends to decline following a decline in AR.
Regards
True. TR curve increases only at a diminishing rate because a monopolist can sell more only if he lowers the price of his product. Accordingly, MR tends to decline following a decline in AR.
Regards