Producer Behaviour and Supply (CBSE Class-12 Economics): Questions 54 - 61 of 175

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Question number: 54

» Producer Behaviour and Supply » Revenue

Appeared in Year: 2010

True-False▾

Following Statement is true or false:

When total revenue is constant average revenue will also be constant.

Question number: 55

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2006

One Liner Question▾

Write in Brief

When a good is called an ‘inferior good’?

Question number: 56

» Producer Behaviour and Supply » Cost

Appeared in Year: 2010

True-False▾

Following Statement is true or false:

Average variable cost can fall even when marginal cost is rising.

Question number: 57

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2010

True-False▾

Following Statement is true or false:

When marginal product falls, average product will also fall.

Question number: 58

» Producer Behaviour and Supply » Cost

Appeared in Year: 2009

Essay Question▾

Describe in Detail

Find Total cost and Marginal cost.

Find Total cost and Marginal cost in detail.

Output (units)

Average Variable Cost ( Rs. )

Total Cost ( Rs. )

Marginal Cost ( Rs. )

1

-

60

20

2

18

-

-

3

-

-

18

4

20

120

-

5

22

-

-

Explanation

Calculation of Total cost and Marginal cost.

Calculation of Total cost and Marginal cost in detail.

Output (units)

Average Variable Cost ( Rs. )

Total Cost ( Rs. )

Total Fixed cost ( Rs. )

Total variable cost ( Rs. )

Marginal Cost ( Rs. )

1

20

60

40… (132 more words) …

Question number: 59

» Producer Behaviour and Supply » Production Function

Appeared in Year: 2010

Essay Question▾

Describe in Detail

In an economy 75 percent of the increase in income is spent on consumption. Investment is increased by Rs. 1, 000 crore. Calculate:

(a) Total increase in income

(b) Total increase in consumption expenditure.

Explanation

Increase in income spent on consumption (MPC) = 0.75

Change in investment l = 1000 crore

We know about

K= 11MPC

K= 110.75 =4

K= ΔyΔI

Here value of ΔI and K

4 = Δy1000… (64 more words) …

Question number: 60

» Producer Behaviour and Supply » Revenue

Appeared in Year: 2011

Essay Question▾

Describe in Detail

Distinguish between Average Revenue and Marginal Revenue with the help of a numerical example.

Explanation

Distinguish between Average Revenue and Marginal Revenue

In detail Distinguish between Average Revenue and Marginal Revenue

Characteristics

Average Revenue

Marginal Revenue

Definition

Average revenue is the revenue generated per unit of output sold.

Marginal revenue is the additional revenue that will be generated by increasing product sales by one unit.… (62 more words) …

Question number: 61

» Producer Behaviour and Supply » Cost

Appeared in Year: 2010

Essay Question▾

Describe in Detail

Given below is the cost schedule of a firm. Its average fixed cost is Rs. 20 when it produces 3 units.

Calculate its marginal cost and average total cost

Calculate its marginal cost and average total cost in detail

Output (units)

1

2

3

Average variable cost ( Rs. )

30

28

32

Calculate its marginal cost and average total cost at each given level of output.

Explanation

Calculate its marginal cost and average total cost

Calculate its marginal cost and average total cost in detail

Output

(units)

AVC

AFC

TFC (AFC × Q)

TVC (AVC × Q)

ATC (AVC

+AFC)

TC (TFC + TVC)

1

30

60 (60/1)

60 (60 × 1)

30

90

90

2

28… (125 more words) …

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