Draw the AR curve of a firm under (i) Monopoly and (ii) Perfect competition. Explain the difference in these curves, if any.

Draw the AR curve of a firm under (i) Monopoly and (ii) Perfect compet

1.	Draw the AR curve of a firm under (i) Monopoly and (ii) Perfect competition. Explain the difference in these curves, if any.
Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U04_C10_E01_029_S01.png" width="80%"/> <br/> <a href="https://interviewquestions.tuteehub.com/tag/defference-2048558" style="font-weight:bold;" target="_blank" title="Click to know more about DEFFERENCE">DEFFERENCE</a>. <a href="https://interviewquestions.tuteehub.com/tag/ar-380980" style="font-weight:bold;" target="_blank" title="Click to know more about AR">AR</a> curve in perfect <a href="https://interviewquestions.tuteehub.com/tag/competition-423521" style="font-weight:bold;" target="_blank" title="Click to know more about COMPETITION">COMPETITION</a> is perfectly elastic due to uniformity in price <a href="https://interviewquestions.tuteehub.com/tag/whereas-2326610" style="font-weight:bold;" target="_blank" title="Click to know more about WHEREAS">WHEREAS</a> in monopoly, it is less elastic and downward sloping due to reduction in price.</body></html>