Producer Behaviour and Supply (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 86 - 95 of 175

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Question number: 86

» Producer Behaviour and Supply » Production Function

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Give two reasons for the problem of choice.

Question number: 87

» Producer Behaviour and Supply » Supply » Supply Curve

Essay Question▾

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Draw straight line supply curves with price elasticity of supply equal to (i) one, (ii) less than one and (iii) more than one

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Question number: 88

» Producer Behaviour and Supply » Production Function

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Distinguish between Developmental expenditure and non-developmental expenditure.

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Question number: 89

» Producer Behaviour and Supply » Cost

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Give meanings of marginal cost

Question number: 90

» Producer Behaviour and Supply » Supply » Determinants of Supply

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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: 91

» Producer Behaviour and Supply » Production Function

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

Question number: 92

» Producer Behaviour and Supply » Revenue

Essay Question▾

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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

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Question number: 93

» Producer Behaviour and Supply » Production Function

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Explain why production possibility frontier is concave.

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Question number: 94

» Producer Behaviour and Supply » Revenue

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Explain producer’s equilibrium using schedule. Use total cost and total revenue approach.

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Question number: 95

» Producer Behaviour and Supply » Production Function

Essay Question▾

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Explain, with the help of numerical examples, the effect on total output of a good when all the inputs used in production of that good are increased simultaneously and in the same proportion.

Explanation

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