# Producer Behaviour and Supply-Production Function (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 31 - 39 of 49

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## Question number: 31

» Producer Behaviour and Supply » Production Function

### Write in Short

Define ‘Production function’

## Question number: 32

» Producer Behaviour and Supply » Production Function

Essay Question▾

### Describe in Detail

Distinguish between intermediate products and final products. Give example.

### Explanation

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## Question number: 33

» Producer Behaviour and Supply » Production Function

Essay Question▾

### Describe in Detail

In an economy S=-50 + 0.5 Y is the saving function (Where S = saving and Y = national income) and investment expenditure is 7000. Calculate:

(i) Equilibrium level of national income

(ii) Consumption expenditure at equilibrium level of national income.

### Explanation

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## Question number: 34

» Producer Behaviour and Supply » Production Function

Essay Question▾

### Describe in Detail

Distinguish between domestic product and national product. When can domestic product be more than national product?

### Explanation

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## Question number: 35

» Producer Behaviour and Supply » Production Function

Essay Question▾

### Describe in Detail

Explain with the help of total product curve the meaning of increasing return to a factor.

### Explanation

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## Question number: 36

» Producer Behaviour and Supply » Production Function

True-False▾

### Following Statement is true or false:

Total product will increase only when marginal product increase

## Question number: 37

» Producer Behaviour and Supply » Production Function

Essay Question▾

### Describe in Detail

From the following schedule find out the level of output at which the producer is in equilibrium. Give reason for your answer.

 Output (units) Price ( Rs. ) Total cost 1 24 26 2 24 50 3 24 72 4 24 92 5 24 115 6 24 139 7 24 165

### Explanation

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## Question number: 38

» Producer Behaviour and Supply » Production Function

True-False▾

### Following Statement is true or false:

When there are diminishing returns to a factor, total product always decreases.

## Question number: 39

» Producer Behaviour and Supply » Production Function

Essay Question▾

### Describe in Detail

Explain ‘consumption function’ with the help of a schedule and diagram.

### Explanation

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