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Model Paper 3 — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsModel Paper 31 Mark
MCQ
The AR curve and industry demand curve are same in case of?
  • ✓
    Monopoly
  • B
    Perfect competition
  • C
    None of above
  • D
    Oligopoly
✓

Answer

Correct option: A.
Monopoly
(a) Monopoly
Explanation: In monopoly, price is determined by the industry, i.e. the firm is a price maker. A monopolist can sell as many units of a product by lowering the price. So, the AR curve of the firm is the same as the demand curve.

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