Question

Find the statement that is not true:
O Scarcity does not mean shortage; rather It means the demand for that resource/Item at zero price
exceeds Its supply.
Olf lel > 1, MR>0, and as P falls, both TR and Q Increase, and vice-versa.
O The three crucial characteristics, viz. desire to have a good, willingness to pay for that good, and
ability to pay for that good. In the absence of any of these three characteristics, there demand
O Decision-making by firms is often subject to certain restrictions or constraints, which may be
Internal or external.
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O
i

Answer 1

Answer:

This statement is true

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