Producer Behaviour and Supply (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 106 - 116 of 175

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Question number: 106

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

Write in Short

Define revenue.

Question number: 107

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Give meaning of ‘opportunity cost’

Question number: 108

» Producer Behaviour and Supply » Supply » Elasticity of Supply

Essay Question▾

Describe in Detail

Draw supply curves with price elasticity of supply throughout equal to (i) Zero (ii) one, (iii) infinity and less than one.

Explanation

Price elasticity of supply is the measure of change in quantity supplied of commodity because of the change in its price. Law of supply is the direction in which supply will change in result of change in price, a decrease in price will conduct to contraction of supply and a rise in price will lead to extension of supply. But, if we want to measur

… (140 more words) …

Question number: 109

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table:

Output (units)

Average Revenue

Marginal revenue

Total revenue

1

-

15

-

2

-

-

26

3

11

-

-

4

-

3

-

Explanation

Output (units)

Average Revenue

Marginal revenue

Total revenue

1

15

15

15

2

13

11

26

3

11

7

33

4

9

3

36

In that sum

Average revenue =

And Total Revenue =

Here

In that sum only second row is given total revenue s

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Question number: 110

» Producer Behaviour and Supply » Supply » Market Supply

Short Answer Question▾

Write in Short

What is market supply’?

Question number: 111

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Explain the central problem ‘how to produce’.

Explanation

  • This problem occurs because there are many techniques available for production of commodity like for production of rice, we may use more labor and less capital or less labor more capital both this technique we can produce equal amount of rice.
  • The problem is that to how resources should be combined for production. The goods would be generated e

… (43 more words) …

Question number: 112

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

Calculate ‘intermediate consumption’ from the following data:

Calculate intermediate consumption

Find the intermediate consumption

-

( Rs. lakhs)

Value of output

200

Net value added at factor cost

80

Sales tax

15

Subsidy

5

Depreciation

20

Explanation

Intermediate consumption =

Value of output - Net value added at factor cost - Sales tax - Subsidy - Depreciation

=

= Rs. 90 lakh

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Question number: 113

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

What does cost mean in economics?

Question number: 114

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

Define ‘Production function’

Question number: 115

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Output (units)

Total Variable cost (Rs)

Average variable cost

Marginal cost

1

-

12

-

2

20

-

-

-

-

10

10

4

40

-

-

Explanation

Output (units)

Total Variable Cost (Rs)

Average variable cost

Marginal Cost

1

12

12

12

2

20

10

8

3

30

10

10

4

40

10

10

In that sum find in first row find average variable cost

= = =12

Then in third row find

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Question number: 116

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table:

Output (units)

Total Revenue ( Rs. )

Marginal Revenue ( Rs. )

Average Revenue ( Rs. )

1

-

-

8

2

-

4

-

3

12

-

4

4

8

-

2

Explanation

Output (units)

Total Revenue ( Rs. )

Marginal Revenue ( Rs. )

Average Revenue ( Rs. )

1

8

-

8 (8 1)

2

12

4 (12 - 8)

6 (12 2)

3

12

0 (12 - 12)

4 (12 3)

4

8

-4 (8 - 12)

2 (8 4)

In this sum Here, Marginal Revenue = -

Average Revenue =

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