Theory of firm under perfect Competition

Economics (CUET)

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1-a

2-b

3-c

4-d

Explanation:

Option (1) is correct.
Explanation: Total revenue can be defined as sum total of marginal revenues, i.e., TR=EMR.
In other words, MR is calculated as follows:
MR=TRn - TRn -1

By: Parvesh Mehta

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