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Model Paper 3 — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsModel Paper 31 Mark
MCQ
AR is same as MR in perfect competition as
  • ✓
    Price remains fixed
  • B
    Price can rise
  • C
    Price does not remain fixed
  • D
    Price may fall
✓

Answer

Correct option: A.
Price remains fixed
(a) Price remains fixed
Explanation: In the perfectly competitive market, each firm is a price taker. As a result uniform price prevails in the market. It means that the revenue from every additional unit , i.e. MR is equalto the price (AR) of the product. So AR=MR in perfect competition.

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