CBSE Class-12 Economics: Questions 294 - 301 of 523

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Question number: 294

» Producer Behaviour and Supply » Cost

Short Answer Question▾

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Give meanings of marginal cost

Question number: 295

» Consumer's Equilibrium and Demand » Demand » Elasticity of Demand

Essay Question▾

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Price elasticity of demand of a good is (-) 3. If the price rises from Rs. 10 per unit to Rs. 12 per unit, what is the percentage change in demand?

Explanation

Elasticity of demand = Percentage change in quantity demanded/Percentage change in price

Percentage change in price = PP × 100

= 121010 * 100 = 20 %

Elasticity of demand =-3

-3 = Percentagech… (37 more words) …

Question number: 296

» Consumer's Equilibrium and Demand » Demand » Elasticity of Demand

Essay Question▾

Describe in Detail

Calculate the price elasticity of demand for a commodity when its price increases by 25 % and quantity demanded falls from 150 units to 120 units.

Explanation

Here, Percentage change in price = 25%

Percentage change in quantity demanded = ΔQQ×100

120150150×100

= 30150×100

=-20%

Price elasticity of demand = percentagechan… (39 more words) …

Question number: 297

» Consumer's Equilibrium and Demand » Demand » Determinants of Demand

Short Answer Question▾

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What happens to equilibrium price of a commodity if there is an ‘increase’ in its demand and ‘decrease’ in its supply?

Question number: 298

» Consumer's Equilibrium and Demand » Demand » Determinants of Demand

Essay Question▾

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Distinguish between ‘deficient demand’ and ‘excess demand’ in macroeconomics. Explain the role of open market operations in correcting deficient demand

Explanation

Distinguish between deficient demand and excess demand in macroeconomics.

Distinguish between deficient demand and excess demand in macroeconomics in detail

characteristics

Deficient demand

Excess demand

Situation of Demand

Deficient demand is a situation it is occurs when excess of aggregate supply of output over the aggregate demand for output at… (154 more words) …

Question number: 299

» Producer Behaviour and Supply » Supply » Determinants of Supply

Short Answer Question▾

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Will the supply at a point on a positively sloped, straight line supply curve be unitary elastic, elastic or inelastic?

Question number: 300

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

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What does the problem ‘for whom to produce’ refer to?

Question number: 301

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table.

Find total revenue and marginal revenue.

In this table find total revenue and marginal revenue.

Price ( Rs. )

Output (units)

Total Revenue ( Rs. )

Marginal Revenue ( Rs. )

7

-

7

-

-

2

10

-

-

3

-

(-) 1

1

-

-

(-) 5

Explanation

Calculation total revenue and marginal revenue.

In this table calculation of total revenue and marginal revenue.

Price ( Rs. )

Output (units)

Total Revenue ( Rs. )

Marginal Revenue ( Rs. )

7

1

7

7

5

2

10

3

3

3

9

-1

1

4

4

-5

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