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Byju's Answer
Standard XII
Accountancy
Need for Analysis of Financial Information
What is the s...
Question

What is the shape of the average revenue curve under perfect competition?

A
Horizontal straight line
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B
Vertical straight line
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C
Rectangular hyperbola
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D
Downward to the right
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Solution

The correct option is A Horizontal straight line
Horizontal straight line is the shape of the average revenue curve under perfect competition as at a given price any level of quantity is demanded. In perfect competition, average revenue is equal to the price prevailing in the market.
Image result for perfect competition revenue curve

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