Average revenue is :
A) tr - tc
B) tr / no. of units sold
C) tc / tr
D) mc / ar
Correct Answer:
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Q5: The first economist who coined the terms
Q6: Microeconomics deals with:
A)the theory of factor pricing
B)the
Q7: Prof. Robbin's definition of Economics is:
A)scarcity definition
B)growth
Q8: A theory is:
A)an assumption
B)a validated hypothesis
C)an 'if
Q9: The book 'Principles of Economics' was written
Q11: A hypothesis is a :
A)statement of facts
B)statement
Q12: In the classical system, the basic economic
Q13: Growth definition of economics was concerned with:
A)scarcity
B)welfare
C)wealth
D)economic
Q14: A market:
A)necessarily refers to a meeting place
Q15: The average fixed cost is obtained by
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