For an imperfectly competitive firm: the marginal revenue curve lies below the d

Question

For an imperfectly competitive firm:

the marginal revenue curve lies below the demand curve because any reduction in price applies only to the extra unit sold.

total revenue is a straight, upsloping line because a firm's sales are independent of product price. the marginal revenue curve lies above the demand curve because any reduction in price applies to all units sold. the marginal revenue curve lies below the demand curve because any reduction in price applies to all units sold.

the marginal revenue curve lies below the demand curve because any reduction in price applies only to the extra unit sold.

Explanation / Answer

the marginal revenue curve lies below the demand curve because any reduction in price applies to all units sold.

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