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What is the behaviour of average revenue in a market in which a firm can sell more only by lowering the price?
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A firm is able to sell more quantity of a good only by lowering the price. The firm’s marginal revenue, as he goes on selling, would be :(Choose the correct alternative)
a. Greater than average revenue
b. Less than average revenue
c. Equal to average revenue
Under which market form a firm's marginal revenue is always equal to price?
What is meant by revenue in microeconomics?
State the relation between marginal revenue and average revenue.
Suppose total revenue is rising at a constant rate as more units of a commodity are sold, marginal revenue would be:
(a) Greater than average revenue
(b) Equal to average revenue
(c) Less than average revenue
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