Question

1. AR is always equal to
(a) Revenue (b) Price (c) Cost (d) Profit
2. When AR is constant AR is equal to
(a) MR
(b) TR
(c) AC
(d) MC
3. A firm is able to sell more quantity of a good only by lowering the price. The firm's marginal
Revenue as he goes on selling would be:
(a) Greater than average Revenue
(b) Less than average Revenue
(c) Equal to average Revenue
(d) Zero
4. When MR is zero, TR is
(a) Maximum
(b) Minimum
(c) Zero
(d) Rising
5. When MR is positive, TR is
(a) Rises
(b) Falls
(c) Remains constant
(d) None of the above
6. TC curve is
shaped starting from
(a) Inverse - S, origin
(b) Inverse - S, total fixed cost level.
(c) Straight line, average fixed lost level.
(d) Straight line, total fixed cost level.
shaped.
7. MC Curve is
(a) L-shaped
(b) Straight line
(c) U-shaped
(d) Inverse S-Shaped.​

Answer 1

Answer:

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