Determination of Income and Employment — Economics STD 12 Humanities & Commerce — Question

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

Giving reasons, state whether the following statements are true or false:
If the supply curve is a vertical straight line, change in demand will not affect equilibrium price.

Which of the following statements are true or false?
An economy cannot operate on any point outside the Production Possibility Curve.

Giving reasons, state whether the following statements are true or false.
Under monopolistic competition, all the customers have perfect knowledge of the market conditions.

All points on the budget line give equal satisfaction to the consumer.

Giving reasons, state whether the following statements are true or false.
All combinations on an IC are achievable by a consumer.

Are the following statements true or false? Give reasons.
Expenditure made on the development of a railway line is a capital expenditure.

Giving reasons, state whether the following statements are true or false:
When supply decreases more than proportionately than the fall in demand, equilibrium price will also fall.

Cirular flow of income takes place in case of open economy and close economy.

Giving reasons, state whether the following statements are true or false.
Exports are a part of net factor income from abroad.