Producer Behaviour and Supply (CBSE Class-12 Economics): Questions 69 - 77 of 175

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Question number: 69

» Producer Behaviour and Supply » Cost

Appeared in Year: 2012

Short Answer Question▾

Write in Short

What is the behavior of average fixed cost as output increase?

Question number: 70

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

Give meanings of marginal physical product

Question number: 71

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Why does the difference between Average Total Cost and Average Variable Cost decrease as the output is increased? Can these two be equal at some level of output? Explain.

Explanation

difference between Average Total Cost and Average Variable Cost

Difference Between Average Total Cost and Average Variable Cost

In this figure show difference between Average Total Cost and Average Variable Cost

In this diagram output level increase and difference between Average Total Cost and Average Variable Cost goes on falling.

Average Total Cost (ATC) minus Average Variable Cost (AVC)… (48 more words) …

Question number: 72

» Producer Behaviour and Supply » Supply » Supply Schedule

Essay Question▾

Describe in Detail

Give meaning of money supply, State its components.

Explanation

Meaning of money supply: - Money supply is the total stock of money moving in an economy. The moving money involves the currency, printed notes, money in the deposit accounts and in the form of other liquid assets.

Its components are given below:

(1) Currency arrange by the public

(2)… (36 more words) …

Question number: 73

» Producer Behaviour and Supply » Supply » Determinants of Supply

Short Answer Question▾

Write in Short

Give the meaning of aggregate supply.

Question number: 74

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Identify the three phases of the Law of Variable Proportions from the following and also give reason behind each phase:

Law of Variable Proportions

Find Law of Variable Proportions

Unit of variable input

Total physical product

1

10

2

22

3

30

4

35

5

30

Explanation

Law of Variable Proportions

Phase of Law of Variable Proportions

Units of variable Input

Total Physical product

Average physical product

Marginal physical product

1

10

10

10

2

22

11

12

3

30

10

8

4

35

8.75

5

5

30

6

-5

Here, Average Physical product = Total Physical… (73 more words) …

Question number: 75

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Calculate Total Variable Cost and Marginal Cost from the following cost schedule of a firm whose Total Fixed Costs are Rs. 12

Calculate Total Variable Cost and Marginal Cost

Calculate Total Variable Cost and Marginal Cost in details.

Output

Total Cost

1

20

2

26

3

31

4

38

Question number: 76

» Producer Behaviour and Supply » Supply » Supply Schedule

Short Answer Question▾

Write in Short

Give meanings of supply schedule.

Question number: 77

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Distinguish between fixed cost and variable cost and give one example of each?

Explanation

Distinguish between fixed cost and variable cost

Distinguish between fixed cost and variable cost given below:

Characteristics

Fixed cost

Variable cost

Definition

Fixed costs are costs that do not

vary with the level of production.

Variable costs are the costs that do vary with the level of production.

When change… (147 more words) …

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