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Cost Of Production and Concept of Revenue — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsCost Of Production and Concept of Revenue1 Mark
Question
Why marginal revenue decrease faster than average revenue in imperfect competition?
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Answer

Price has to be decrease for selling an extra unit and that is applicable to pervious units, so the marginal revenue decreases faster than average revenue.

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