Question

State giving reason if the following statements are true or false 3

a. Total revenue increases with every increase in output

b. Marginal revenue can never be zero.

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Answer 1

Explanation:

• False, because when a firm can sell more only by lowering the price, it is possible that TR falls after a level of output.
• False : Marginal Revenue can be zero at a level of output in a market when a firm can sell more only by lowering price.
• False : Marginal Revenue can be zero at a level of output in a market when a firm can sell more only by lowering price.
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Answer 2

Answer:

(a) true.

(b) false.

Explanation:

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