Managerial Economics

1:

Assume that a firm's total revenue curve takes the form of a straight line which passes through the origin. We may deduce that

A.

Total costs and total revenue are equal

B.

Price and marginal revenue are equal

C.

Price exceeds marginal revenue

D.

Elasticity of demand for the product is unity

 

Answer : B

Explanation :

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Option: A

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