WAEC Economics 2025 Objective — Question 26
Question 26 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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The monopolist's price is always
- A. lower than average revenue.
- B. lower than his production cost per unit.
- C. higher than average revenue.
- D. higher than marginal revenue.Correct
Explanation
For a monopolist, the demand (AR) curve lies above the MR curve, so price (AR) is always higher than marginal revenue.
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