UPSC CAPF Assistant Commandant Model Paper 2

Question : 44 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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