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When price falls with rise in output, TR is _____ when MR is zero -

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Question

When price falls with rise in output, TR is ______ when MR is zero

Options

  • Maximum

  • Minimum

  • Zero

  • None of these

MCQ

Solution

Maximum

Explanation:

When price falls as output rises, i.e., when imperfect competition exists, TR reaches its maximum value, and MR hits zero. TR then begins to decline, and MR becomes negative.

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