Producer Behaviour and Supply (CBSE Class-12 Economics): Questions 35 - 45 of 175

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Question number: 35

» Producer Behaviour and Supply » Production Function

One Liner Question▾

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Define ‘production function’.

Question number: 36

» Producer Behaviour and Supply » Supply » Determinants of Supply

One Liner Question▾

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Explain the effect of the following on the supply of a commodity:

(a) Fall in the prices of factor inputs.

(b) Rise in the prices of other commodities.

Question number: 37

» Producer Behaviour and Supply » Producer's Equilibrium

Short Answer Question▾

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What will be the price elasticity of supply at a point on a positively sloped, straight

line supply curve?

Question number: 38

» Producer Behaviour and Supply » Cost

One Liner Question▾

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Give meaning of balance of payments

Question number: 39

» Producer Behaviour and Supply » Cost

One Liner Question▾

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Give meanings of (1) marginal physical product, (2) fixed cost, (3) variable cost, and (4) total revenue

Question number: 40

» Producer Behaviour and Supply » Cost

One Liner Question▾

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When is supply of a commodity said to be (i) elastic, (ii) inelastic and (iii) perfectly inelastic?

Question number: 41

» Producer Behaviour and Supply » Supply » Market Supply

One Liner Question▾

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Explain the effect of ‘input price changes’ on the supply of a good

Question number: 42

» Producer Behaviour and Supply » Revenue

Essay Question▾

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Give meanings of capital receipts and revenue receipts with an example of each.

Explanation

Capital Receipts: - Capital receipts are the one which creates liability and reduce asset. It is categorized as:

(1) Recovery of loans: - It is reducing the assets of government.

(2) Borrowings: -Funds are raised through government from the borrowing as a capital receipts.

(3) Other receipts: - Funds raised… (84 more words) …

Question number: 43

» Producer Behaviour and Supply » Supply » Market Supply

Essay Question▾

Describe in Detail

Explain the effect of technical progress on the supply of a good.

Explanation

A cost saving technological process will reduce the marginal cost of production leading to a downward shift in marginal cost curve and since, the MC curve is the same as the supply curve of the firm, downward shift in MC curve implies a downward shift in supply curve. Hence, supply… (70 more words) …

Question number: 44

» Producer Behaviour and Supply » Cost

Essay Question▾

Describe in Detail

Explain the conditions leading to profit maximization by a producer. Use total cost and total revenue approach.

Explanation

Producer is earning maximum profits. Profit is the difference between total revenue and total cost. Producer is in equilibrium at that level of output he is earning maximum profits. If produces less than he does not maximize total profits.

Total cost and Total Revenue curves: -

Profit is the difference… (87 more words) …

Question number: 45

» Producer Behaviour and Supply » Cost

One Liner Question▾

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Why is a production possibility curve concave?

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