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36. Average revenue is calculated by
Average revenue is calculated by
TRn - TRn-1
P x Q
TR / MR
TR / Q
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37. Cross elasticity of demand between two perfect substitutes will be
low
high
zero
infinity
38. At elasticity of one, marginal revenue is equal to
one
none
39. Shifts in demand curve include
Increase in Demand (Upward shift)
Extention in demand
Contraction in demand
None of the above
40. An indifference curve is always
A vertical straight line
Convex to the origin
Concave to the origin
A horizontal straight line
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