Class XII

The elasticity at a point on a straight line supply curve passing through the origin will be
  1. 1.0
  2. 4
  3. 2
  4. 3
Is AR = price
  1. Can’t say
  2. Yes
  3. None of these
  4. NO
When a firm’s TR<
  1. None of these
  2. Can’t say
  3. TRUE
  4. 0
Price taker firms
  1. Do not advertise but give gifts along with the sold items to attract customers
  2. Do not advertise because they can sell as much as they wish at the prevailing price
  3. Advertise their products to boost the level of demand
  4. Do not advertise their products because it misleads the customers
A firm maximizes its profits just when MR=MC and it is sufficient
  1. None of these
  2. TRUE
  3. Can’t say
  4. 0
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