Write your comment of the statement in a sentence or two:Greater produ – InterviewSolution

InterviewSolution

1.	Write your comment of the statement in a sentence or two:Greater production always means greater revenue.
Answer» No. Greater production does not always mean greater revenue (TR). Price (AR) may fall so much that higher output yields lower TR.

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The curve in the following diagram is the most similar to a typical , A. Total Variable Cost CurveB. Marginal Cost CurveC. Total Cost CurveD. Average Variable Cost Curve
Which two curves are intersected by MC curve at their minimum points:A. AC and AVCB. AVC and AFCC. AC and AFCD. AC and TVC
When AC curve slopes downwards, what will be the position of MC curve ?
MC curve intersects AC curve at its `"______"` point and AVC curve at its `"_____"` point.A. Maximum, MinimumB. Minimum, MinimumC. Minimum, MaximumD. None of these
Identify the following curve : A. Average Variable Cost CurveB. Total Variable Cost CurveC. Average Fixed Cost CurveD. Average Cost Curve
Which of the following diagram correctly depicts the relationship between `TC, TFC` and TVC ?A. B. C. D.
The area under the following curve is equal to : A. Total CostB. Average CostC. Average Variable CostD. Total Variable Cost
When `AC gt MC`, then MC can:A. FallB. RiseC. Both (a) and (b)D. None of these
Which formula is incorrect to determine the value of TC :A. `TC = TVC + TFC`B. `TC = sumMC`C. `TC = AC xx "Output"`D. `TC = sumMC + TFC`
Discuss the relationship between TVC and MC. OR Draw a diagram showing TVC in terms of the area under MC curve.