UPSC CAPF AC 2019 Paper

Question : 97 of 125

Marks: +1, -0

Which one of the following is NOT correct ?

The Average Revenue and Marginal Revenue curves of a perfectly competitive firm are perfectly elastic
The Marginal Revenue curve of the monopoly firm is above its Average Revenue curve
In the long-run, a competitive firm earns only normal profits
In equilibrium, the Marginal Cost Curve of the monopoly firm may be rising, falling or constant

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