MCQ
Choose the odd one out
- AWhen P = 3, Q = 8 then TR = 24
- BWhen P = Q = 1 then TR = 10
- ✓When P = 4, Q = 6 then TR = 27
- DWhen P = 5, Q = 7 then TR = 35
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| a) | Year of great divide | 1921 | |
| b) | Demographic transition | 2001 | |
| c) | Year of small divide | 1951 | |
| d) | Year of population explosion | 1961 | |
| a) | Perfect competition | Uniform price | ||
| b) | MR is zero | Total revenue is maximum | ||
| c) | MR is positive | Total revenue rises | ||
| d) | MR is infinity | TR is decreasing | ||
| a) | Law of DMU | 1) | Hicks and Allen |
| b) | Consumer's surplus | 2) | Cournot |
| c) | Indifference curve | 3) | Dupuit |
| d) | Law of demand | 4) | H.H.Gossen |