In the monopoly, the firm's marginal revenue curve is ________, while in a perfectly competitive market, each firm's marginal revenue curve is ________.

Question

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In a monopoly, the marginal revenue curve is downward sloping because the firm must lower the price to sell additional units. In a perfectly competitive market, the marginal revenue curve is horizontal, as the firm can sell any quantity at the market price.

In the Monopoly, the Firm's Marginal Revenue Curve Is ________