Perfect competition
Monopoly
Both ‘a’ and ‘b’
None of the above
✅ The correct answer is B.
Marginal revenue is always less than price at all levels of output in Monopoly. A monopolist’s marginal revenue is always less than or equal to the price of the good. Marginal revenue is the amount of revenue the firm receives for each additional unit of output.
Marginal revenue is always less than price at all levels of output in Monopoly. A monopolist’s marginal revenue is always less than or equal to the price of the good. Marginal revenue is the amount of revenue the firm receives for each additional unit of output.