A. The total cost equals demand
B. The average revenue equals the marginal revenue
C. The price equals the average cost
D. The price equals the marginal cost
A. Revenue – fixed costs
B. Fixed cost + revenue
C. Revenue – sales
D. Revenue – total costs
A. Marginal cost is zero
B. Marginal revenue is maximised
C. Marginal revenue is zero
D. Marginal revenue equals marginal cost
A. Enable abnormal profits to be made in the long run
B. Enable losses to be made in the long run
C. Enable abnormal profits to be made in the short run only
D. Occur in perfect competition
A. The demand curve is the marginal cost curve
B. The average revenue equals the average cost
C. The marginal cost is the average cost curve
D. The demand curve is the marginal revenue
A. Marginal revenue in A= Price B
B. Marginal revenue in A = Marginal revenue B = Price A = Price B
C. Marginal revenue in A = Marginal revenue B = Marginal cost
D. Marginal revenue in A = Marginal revenue B = Average cost
A. No profit is being made
B. Total revenue equals total cost
C. Profits are maximised
D. Producing another unit would increase profits
A. The average cost increase from Rs20 to Rs30
B. The total costs for 11 units are Rs700
C. The average cost for 10 units is Rs1300
D. The average cost for 11 units is Rs1300
A. covers fixed costs
B. covers variable costs
C. covers total costs
D. covers revenue
A. They will aim to leave the industry
B. Other firms will join the industry
C. The revenue equal total costs
D. No profit is made is accounting terms