Producer Behaviour and Supply (CBSE Class-12 Economics): Questions 167 - 175 of 175

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Question number: 167

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Explain the relation between marginal cost and average cost.

Explanation

Relationship between Marginal cost and Average cost is:

Both marginal cost and Average cost are obtain from Total cost and Average cost refers to Total cost per unit of output and marginal cost refers to addition to total cost when one more unit of output is composed and both Average… (118 more words) …

Question number: 168

» Producer Behaviour and Supply » Supply » Supply Schedule

Short Answer Question▾

Write in Short

Give meaning of Supply

Question number: 169

» Producer Behaviour and Supply » Production Function

Short Answer Question▾

Write in Short

Give meaning of Production function

Question number: 170

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Give meaning of Cost

Question number: 171

» Producer Behaviour and Supply » Cost

Short Answer Question▾

Write in Short

Define opportunity cost.

Question number: 172

» Producer Behaviour and Supply » Producer's Equilibrium

Essay Question▾

Describe in Detail

Explain the meaning and conditions of producer’s equilibrium

Explanation

Producer’s equilibrium: - Equilibrium refers to a state of rest when no change is required. A firm (producer) is said to be in equilibrium when it has no inclination to expand or to contract its output. This state either reflects maximum profits or minimum losses.

Conditions of producer’s equilibrium are… (196 more words) …

Question number: 173

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

State the phases of the law of variable proportions in terms of total physical product and marginal physical product.

Explanation

Stage or phase of the law of variable proportion is given below:

(1) Increasing returns to the factor: -

It is first stage in that it is go from origin to destination means point where marginal product curve is maximum. In that stage total product is increasing at an increasing… (165 more words) …

Question number: 174

» Producer Behaviour and Supply » Production Function

Essay Question▾

Describe in Detail

State the phases of the law of variable proportions in terms of total physical product. Use diagram.

Explanation

Law of variable proportion attend an important place in economics. This law considers the production function with one factor variable and keeps the quantities of other factors fixed. It refer to the input and output relation when output is increased by the quantity of one input.

When quantity of one… (269 more words) …

Question number: 175

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Distinguish between ‘revenue receipt’ and ‘capital receipt’ and give two examples of each.

Explanation

Distinguish between revenue receipt and capital receipt and give two examples

In detail Distinguish between revenue receipt and capital receipt and give two examples

Characteristics

Revenue receipt

Capital receipt

Definition

Revenue receipt means income created from the operating activities.

Capital receipt means income created from investment

What does receipt create?… (41 more words) …

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