MICROECONOMICS CH : 8 CONCEPTS OF COST — Economics STD 11 Commerce — Question

State giving reasons, whether the following statements are true or false:
When Marginal Revenue is positive and constant, Average Revenue and Total Revenue will both increase at constant rate.

State giving reasons, whether the following statements are true or false:
When Marginal Product falls, Average Product will also fall?

Giving reasons, state whenever the following statements are true or false:
With increase in level of output, Average Fixed Cost goes on falling till reaches zero.

Giving reasons, state whether the following statements are true or false.
If marginal product becomes negative, average product must also become negative.

Giving reasons, state whether the following statement are true or false:
When there are diminishing returns to a factor, total product always decreases.

For a family of four, demand schedule for rice should be the same for each member.

State giving reasons, whether the following statements are true or false:As output is increased, the difference between Average Total Cost and Average Variable Cost falls and ultimately becomes zero.

Lack of scarcity implies lack of economic problem.

When average revenue falls marginal revenue falls faster than average revenue. (True/ False)

Higher Indifference Curve indicates higher level of satisfaction. (True/ False)