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Que : 50. Write True or False :

(i) Opportunity cost is also called the economic cost.

(ii) Goods and Service Tax (GST) is concept of One Nation, One Tax and One Market.

(iii) Reserve Bank of India is the last lender to the banks.

(iv) If at a price market supply is greater than market demand, then we say that there is an excess market demand.

(v) Two indifference curves intersect to each other.

(vi) Market demand curve is the Average revenue curve.
Answer:

i) false, opportunity cost is also known as alternative cost

ii) true, it unified all market as a common market.

iii) true, RBI is the last lender during the financial crisis of the bank.

iv) false, when demand is less than the supply there is an defienct demand.

v) false, two indifference curve can never intersect each other.

vi) true, the average revenue curve and the market demand curve are the same thing.