Answer :
The average revenue will decrease because lowering the price of the rent will eventually lower the revenue.
- Is a marketplace with the "absence of competition", developing a state of affairs in which a particular individual or organization is the simplest dealer of a specific thing.
- A monopoly is a company that's the only dealer of its product, and in which there aren't any near substitutes. An unregulated monopoly has marketplace electricity and may affect prices.
- A marketplace shape is characterized by a dealer, promoting a completely unique product withinside the marketplace. In a monopoly marketplace, the vendor faces no competition, as he's the only dealer of products without a near substitute.
- The best example of Monopoly is Electricity board, Railways, etc.
Thus, a monopoly is a market situation where there is only one seller and many buyers and the seller sells unique goods and has price discrimination and when the monopoly supplier lowers the prices of pair of pandas then the result is clear that the revenue will decrease.
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