71 Under perfect competition a firm is

Price taker

72 In case of monopoly Marginal revenue is always

 Less than average revenue

73 In Monopoly, Marginal revenue is always less than price at all levels of

 Output

74 As output increases Marginal Cost curve

First falls and then rises

75 The another name of Average Total Cost is

UnitCost

76 The slope of Total Cost gives an idea about

Marginal Cost

77 Does Total Cost starts from origin?

No

78 Which cost starts from origin? Total Variable Cost

Total Variable Cost

79 Which cost rises continuously?

Total Cost

80 Explicit cost is the cost that a firm incurs for

Purchasing or Hiring Factors