Producer Behaviour and Supply (CBSE Class-12 Economics): Questions 21 - 29 of 175

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Question number: 21

» Producer Behaviour and Supply » Cost

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What is meant by cost in economics?

Question number: 22

» Producer Behaviour and Supply » Cost

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Define ‘opportunity cost’.

Question number: 23

» Producer Behaviour and Supply » Cost

One Liner Question▾

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Define cost.

Question number: 24

» Producer Behaviour and Supply » Production Function

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Explain the shape of a production possibility frontier.

Question number: 25

» Producer Behaviour and Supply » Producer's Equilibrium

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Explain the changes that will take place in the market for a commodity if the prevailing market price is less than the equilibrium price.

Question number: 26

» Producer Behaviour and Supply » Revenue

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Define marginal revenue. State the relation between marginal revenue and average revenue when a firm:

(i) is able to sell more quantity of output at the same price.

(ii) is able to sell more quantity of output only by lowering the price.

Question number: 27

» Producer Behaviour and Supply » Production Function

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Explain the likely behaviour of Total Product and Marginal Product when only one input is increased while all other inputs are kept unchanged.

Question number: 28

» Producer Behaviour and Supply » Revenue

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Complete the following table:

Table to Calculate the missing items like price, MR, TR

some of the information is given which helps to find out missing items

Output (units)

Price ( Rs. )

Marginal Revenue ( Rs. )

Total Revenue ( Rs. )

1

-

10

-

2

9

-

-

3

-

-

24

4

-

4

-

Question number: 29

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

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Explain the relation between marginal revenue and average revenue when a firm is able to sell more quantity of output

(i) at the same price.

(ii) only by lowering the price.

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