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WAEC Economics 2021 Paper

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Question : 21

Total: 50

The relationship between the marginal revenue (MR) and the average revenue(AR) of a monopolist is that the marginal revenue curve____

is above the average revenue curve
slopes down to the right and is below the AR curve.
and the AR curve are downward sloping and are identical.
is vertical while the average revenue curve is horizontal.

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