Producer Behaviour and Supply-Production Function (CBSE Class-12 Economics): Questions 1 - 8 of 49

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Question number: 1

» Producer Behaviour and Supply » Production Function

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

Question number: 2

» Producer Behaviour and Supply » Production Function

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Find the profit maximizing level of output from the following:

Information to calculate profit maximizing output

data of price, ATC, no. of unit sold is given

Quantity sold (units)

Price ( Rs. per unit)

Average Total Cost ( Rs. )

7

10

6

8

9

5

9

8

6

10

7

7

Question number: 3

» Producer Behaviour and Supply » Production Function

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What change will take place in marginal product, when total product increases at a diminishing rate?

Question number: 4

» Producer Behaviour and Supply » Production Function

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Explain why a production possibilities curve is concave.

Question number: 5

» Producer Behaviour and Supply » Production Function

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Explain the shape of a production possibility frontier.

Question number: 6

» 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: 7

» Producer Behaviour and Supply » Production Function

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All the inputs used in production of a good are increased simultaneously and in the same proportion. What are its possible effects on Total Product?

Explain with the help of a numerical example.

Question number: 8

» Producer Behaviour and Supply » Production Function

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Define ‘production function’.

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