# Producer Behaviour and Supply (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 46 - 53 of 175

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## Question number: 46

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2011

### Write in Short

Define budget set.

## Question number: 47

» Producer Behaviour and Supply » Supply » Elasticity of Supply

Appeared in Year: 2006

Essay Question▾

### Describe in Detail

The price elasticity of supply of a commodity is 2. When its price falls from Rs. 10 to Rs. 8 per unit, its quantity supplied falls by 500 units. Calculate the quantity supplied at the reduced price.

### Explanation

Assume quantity supplied be x units.

 Price (P) Quantity (Q) 10 X 8 x-500

Elasticity of supply of a commodity is 2

P = 10 Q = X

So, = 2 and ∆Q = 500

Price elasticity of supply =

2 =

2 =

… (38 more words) …

## Question number: 48

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2009

### Write in Short

What can be the minimum value of investment multiplier?

## Question number: 49

» Producer Behaviour and Supply » Supply » Market Supply

Appeared in Year: 2011

Essay Question▾

### Describe in Detail

Define ‘Market-supply’. What is the effect on the supply of a good when Government imposes a tax on the production of that good? Explain.

### Explanation

Market supply is total quantities supplied by all firms in market at different price levels. The graphical representation when government introduce tax on production of good is given below:

In this diagram LAC1 and LMC1 are long run average cost c

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## Question number: 50

» Producer Behaviour and Supply » Cost

Appeared in Year: 2006

Essay Question▾

### Describe in Detail

The total fixed cost of a firm is Rs. 12. Given below is its marginal cost schedule. Calculate total cost and average variable cost for each given level of output.

 Output (units) 1 2 3 4 5 6 Marginal cost (RS. ) 9 7 2 4 8 12

### Explanation

 Output (units) Marginal cost ( Rs. ) Total fixed cost Total variable cost Total cost Average variable cost 1 9 12 9 21 9 2 7 12 16 28 8

… (10 more words) …

## Question number: 51

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2011

Essay Question▾

### Describe in Detail

Explain the three properties of indifference curves

### Explanation

Indifference curve properties are given below:

(i) The slope of an indifference curve is negative, downward sloping, and from left to right. It means that the consumer to be indifferent to all the combinations on an indifference curve must leave less units of good Y in order to have more of good X.

(ii) Slope of IC: - The slope of IC is depen

… (212 more words) …

## Question number: 52

» Producer Behaviour and Supply » Supply » Determinants of Supply

Appeared in Year: 2011

### Write in Short

Define money supply.

## Question number: 53

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2011