Cost & Revenue

Cost is the expenditure made by .............

Total Cost is obtained by adding .........

• All AVC

• All Fixed Costs

• All Variable Costs

• TFC and TVC

Normally, Marginal Cost is calculated as ..........

• d(TVC)/dQ

• d(TFC)/dQ

• d(TC)/dQ

• TC1 + TC2

AC is U-shaped because of .......

• AC = AVC + AFC

• Economies of Scale

• Diseconomies of Scale

• All of these reasons

MC cuts AC and AVC to their...............

• Maximum

• Begining

• Minimum

• Ending

Average revenue is also known by ....

• Price

• TR - TC

• MR

• TR ÷ MR

In a Perfect Competition market there is .....

• P = AR

• P = MR

• P = AR - MR

• P = AR = MR

In the imperfect competition market, when demand curve or AR is a straight line then MR passes through ...........

• Mid-way from AR and Y-axis

• Parallel to AR

• Nearer by Y-axis

• Nearer by AR