Class XII

TR is always a 45 degree angle in perfect competition market as
  1. Price remains fixed
  2. Price can rise
  3. Price may fall
  4. Price does not remain fixed
Can the AC be equal to MC when AC is rising
  1. Can’t say
  2. No
  3. None of these
  4. Yes
What happens to TR when MR is zero
  1. Decreases
  2. Increases at decreasing rate
  3. Decreases at increasing rate
  4. TR is Constant
Diagrammatically AC has a U shape. The statement is
  1. May not be
  2. May not be
  3. May be
  4. 1
What happens to TR when MR is increasing
  1. Increases at increasing rate
  2. Decreases at increasing rate
  3. Decreases at decreasing rate
  4. Increases at decreasing rate
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