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Question
Average revenue and Price are always equal under:(choose the correct alternative)
(a) Perfect competition only
b) Monopolistic competition only
(c) Monopoly only
(d) All market forms
Solution
All market forms
Average revenue (AR) and price always equal under all market forms. As we know that AR is equal to per unit sale receipts and price is always per unit. This is because the sellers receive revenue according to price.
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