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Give relation between TR and MR when price is constant.(ii) AR and MR when price is constant. |
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Answer» Solution :When price is constant, MR = AR = Price. MR and AR coincide, both being PARALLEL to the X-axis. SInce MR is constant at all output LEVELS, TR is a positively sloped straight line making an angle of 45 DEGREES with the axis. When price is constant, AR = MR or both the curves coincide each other and are parallel to the X-axis |
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