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Statement b is false, because the SMC and MVC curves actually coincide. MVC shows the change in a firm's total variable cost if its output changes by one unit, while SMC shows the change in its short-run total cost if its output changes by one unit. Now, in the short-run, if a firm changes its output by one unit, it can change the quantity of the variable inputs it uses but not the quantity of the fixed inputs, so the change in its total cost equals the change in the cost of its variable inputs.
Which was the first instance of a large-scale and violent rebellion by the Indian sepoys against the British East India Company?
Some reasons highlighting the importance of delivering sex education in schools are mentioned below. Choose the incorrect option.
In a queue of travellers at the emigration counter facing north, Pankaj is 9th from the extreme left end and Puja is 17th from the extreme right end. If...
The Badami rock inscription of Pulakesin-I is dated in Saka Year 465. If the same work to be dated in Vikram Samvat, the year would be
According to recent report, which state recorded the highest total health expenditure in 2021-22?
Which of the following provisions are correct in regards to the finances in the 73rd Constitutional Amendment Act?
1. The state legislature...
A student focuses a sharp image of the sun using a spherical mirror on a sheet of paper, which starts to burn after some time. Which of the following st...
The I-V graph of three resistances R₁ ,R₂ and R₃ is shown in the figure below. The correct relation between R₁ R₂ and R₃ is:
INSPIRE–MANAK scheme, recently seen in news, is implemented by which organizations?
Which of the following are the functions of the Reserve Bank of India?
I. RBI sells foreign currency in the ...