The shape of average revenue curve in monopoly is ........

Economics (CUET) Market Equilirium

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The shape of average revenue curve in monopoly is _______________.

Upward rising

Downward sloping

U-shaped

S-shaped

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Explanation:

Option (2) is correct.
Explanation: Monopoly is a market situation in which there is a single seller, there are no close substitutes for commodity it produces and there are barriers to entry of new
firms. Monopolist himself fixes the price. Accordingly, a monopolist faces a downward sloping demand curve which shows that more can be sold only at a lower price.