If marginal revenue is Rs. 25/- and elasticity of demand w. r. t price is 2, then the average revenue is
A) 50
B) 25
C) 75
D) 100
Correct Answer:
Verified
Q2: Cost is a function of
A) price
B) revenue
C)
Q3: An example of fixed inputs of production
Q4: Total variable cost plus total fixed cost
Q5: The ratio of total cost to the
Q6: Sum of explicit cost and implicit cost
Q7: For a unitary elastic supply curve, p
Q8: Cross price elasticity may not always be
A)
Q9: Luxury goods are:
A) price inelastic
B) price elastic
C)
Q10: If close substitutes are available, then the
Q11: The relationship between supply and price is
A)
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