Producer Behaviour and Supply (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 156 - 166 of 175
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Question number: 156
» Producer Behaviour and Supply » Revenue
Describe in Detail
Complete the following table:
| Price ( Rs. ) | Output (Units) | Total Revenue (Rs) | Marginal Revenue ( Rs. ) |
| - | 1 | 6 | - |
| 4 | - | - | 2 |
| - | 3 | 6 | - |
| 1 | - | - | (-) 2 |
Explanation
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Question number: 157
» Producer Behaviour and Supply » Production Function
Describe in Detail
Explain what happens to the profits in the long run if the firms are free to enter the industry.
Explanation
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Question number: 158
» Producer Behaviour and Supply » Supply » Determinants of Supply
Write in Short
Define ‘aggregate supply’
Question number: 159
» Producer Behaviour and Supply » Production Function
Describe in Detail
Explain ‘saving function’ with the help of schedule and diagram.
Explanation
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Question number: 160
» Producer Behaviour and Supply » Cost
Describe in Detail
Distinguish between Average cost and Marginal cost giving an example.
Explanation
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Question number: 161
» Producer Behaviour and Supply » Supply » Elasticity of Supply
Describe in Detail
Distinguish between perfectly elastic and perfectly inelastic supply.
Explanation
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Question number: 162
» Producer Behaviour and Supply » Production Function
Write in Short
Define ‘Production function’.
Question number: 163
» Producer Behaviour and Supply » Revenue
Write in Short
Give meaning of Revenue
Question number: 164
» Producer Behaviour and Supply » Cost
Describe in Detail
Calculate ‘total variable cost’ and ‘total cost’ from the following cost schedule of a firm whose fixed costs are Rs. 10.
| Output (Units) | 1 | 2 | 3 | 4 |
| Marginal Cost (Rs): | 6 | 5 | 4 | 6 |
Explanation
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Question number: 165
» Producer Behaviour and Supply » Production Function
Write in Short
What does a rightward shift of production possibility curve indicate?
Question number: 166
» Producer Behaviour and Supply » Producer's Equilibrium
Describe in Detail
Explain producer’s equilibrium with the help of a diagram.
Explanation
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