Producer Behaviour and Supply (CBSE Class-12 Economics): Questions 1 - 6 of 175

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Question number: 1

» Producer Behaviour and Supply » Cost

One Liner Question▾

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Give the meaning of marginal cost.

Question number: 2

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

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Explain the likely behaviour of Total Product and Marginal Product when for increasing production only one input is increased while all other inputs are kept constant.

Question number: 3

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

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Find the profit maximizing level of output from the following:

Information to calculate profit maximizing output

data of price, ATC, no. of unit sold is given

Quantity sold (units)

Price ( Rs. per unit)

Average Total Cost ( Rs. )

7

10

6

8

9

5

9

8

6

10

7

7

Question number: 4

» Producer Behaviour and Supply » Producer's Equilibrium

Short Answer Question▾

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On the basis of the information given below, determine the level of output at which the producer will be in equilibrium. Use the marginal cost – marginal revenue approach. Give reasons for your answer.

table shows average revenue and total cost of no. of output

it shows the effect of increase or decrease in output on total cost

Output (Units)

Average Revenue (Rs)

Total Cost (Rs)

1

7

8

2

7

15

3

7

21

4

7

26

5

7

33

6

7

41

Question number: 5

» Producer Behaviour and Supply » Cost

Short Answer Question▾

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State the distinction between explicit cost and implicit cost. Give an example of each.

Question number: 6

» Producer Behaviour and Supply » Supply » Determinants of Supply

One Liner Question▾

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State the ‘law of supply’. What is meant by the assumption ‘other things remaining the same’ on which the law is based?

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