Producer Behaviour and Supply (CBSE 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

Short Answer Question▾

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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.

calculate the quantity supplied at the reduced price.

calculate the quantity supplied at the reduced price in detail

Price (P)

Quantity (Q)

10

X

8

x-500

Elasticity of supply of a commodity is 2

P = 10 Q = X

So, Equation = 2… (54 more words) …

Question number: 48

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2009

Short Answer Question▾

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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▾

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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:

The supply of a good

The Supply of a Good

supply of a good when Government imposes a tax on the production of that good

In… (80 more words) …

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.

Calculate total cost and average variable cost for each given level of output.

Calculate total cost and average variable cost for each given level of output in detail

Output (units)

1

2

3

4

5

6

Marginal cost (RS. )

9

7

2

4

8

12

Explanation

Calculation total cost and average variable cost for each given level of output.

Calculation total cost and average variable cost for each given level of output in detail

Output (units)

Marginal cost ( Rs. )

Total fixed cost

Total variable cost

Total cost

Average variable cost Equation

1

9

12… (40 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… (233 more words) …

Question number: 52

» Producer Behaviour and Supply » Supply » Determinants of Supply

Appeared in Year: 2011

Short Answer Question▾

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Define money supply.

Question number: 53

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2011

Short Answer Question▾

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Giving reasons classify the following into intermediate products and final products:

(i) Furniture purchased by a school.

(ii) Chalks, dusters, etc. purchased by a school

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