Producer Behaviour and Supply (CBSE Class-12 Economics): Questions 78 - 85 of 175

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Question number: 78

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Categorize the following government receipts into revenue receipts and capital receipts. Give reason for your answer.

(a) Receipts from sale of shares of a public sector undertaking.

(b) Borrowings from public.

(c) Profits of public sector undertakings.

(d) Income tax received by government.

Explanation

(a) Receipts from sale of shares of a public sector undertaking is capital receipt because it outcomes in reduction of assets of government.

(b) Borrowings from public it is capital receipt and it creates liability for government.

(c) Profits of public sector undertakings it is not capital receipt but it… (42 more words) …

Question number: 79

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Distinguish between Marginal utility and Total utility

Explanation

Distinguish between Marginal utility and Total utility

In detail Marginal utility and Total utility difference.

Marginal utility

Total utility

Marginal utility is the satisfaction that we get from consuming another quantity of a good or service.

Total utility is the total satisfaction that we get from consuming a given total… (102 more words) …

Question number: 80

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

Write in Short

Give meanings of marginal revenue

Question number: 81

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

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

marginal cost and marginal revenue

Calculate marginal cost and marginal revenue

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

Explanation

marginal cost and marginal revenue

Calculate marginal cost and marginal revenue

Output (units)

Average Revenue (Rs)

Total Cost (Rs)

Marginal cost

Marginal revenue

1

7

8

-

7

2

7

15

7

7

3

7

21

6

7

4

7

26

5

7

5

7

33

7

7

6

7… (57 more words) …

Question number: 82

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Distinguish between ‘fiscal deficit’ and ‘revenue deficit’. What does fiscal deficit indicate?

Explanation

Distinguish between fiscal deficit and revenue deficit.

Distinguish between fiscal deficit and revenue deficit in detail.

Characteristics

Fiscal deficit

Revenue deficit

Meaning

Fiscal deficit is defined as excess of total expenditure over total receipts excluding borrowing.

Revenue deficit refers to the excess of revenue expenditure of the government over its… (50 more words) …

Question number: 83

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

Write in Short

Explain the relation between marginal revenue and total revenue.

Question number: 84

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

Give one reason for a rightward shift of the Production Possibility Curve

Question number: 85

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

What is meant by cost in economics?

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