MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question

Even when resources and technology are constant, an economy may not operate on the PPC.

Giving reasons, state whether the following Its are true or false.
The difference between average total cost and average variable cost is constant.

In response to constant and positive marginal revenue, both total revenue and average revenue tend to rise at a constant rate.

The demand for a commodity always increases with increase in the prices of other goods. True or false?

Can Marginal revenue be negative.

State giving reasons, whether the following statements are true or false:
When Total Revenue is constant, Average Revenue will also be constant.

The demand of a commodity becomes elastic if its substitute good is available in the market. (True/ False)

Slope of indifference curve shows MRS

Giving reasons, state whether the following statements are true or false:
If the demand for a commodity increases, its supply curve remaining the same, the market price of the commodity will rise.