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प्रश्न
What is the price line?
उत्तर
Price line is the graphical representation of the relationship between output and price, with x-axis denoting the output and y-axis denoting the price. For a perfectly competitive firm, price line and demand curve are the same.
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संबंधित प्रश्न
How are the total revenue of a firm, market price, and the quantity sold by that firm related to each other?
Why is the total revenue curve of a price-taking firm an upward-sloping straight line? Why does the curve pass through the origin?
What is the relation between market price and average revenue of a price taking firm?
What is the relation between market price and marginal revenue of a price-taking firm?
Calculate the total revenue, marginal revenue and average revenue schedules in the following table. Market price of each unit of the good is Rs 10.
|
Quantity Sold |
TR |
MR |
AR |
|
0 |
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|
1 |
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|
2 |
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|
3 |
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|
4 |
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|
5 |
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|
6 |
