Producer Behaviour and Supply-Revenue (CBSE Class-12 Economics): Questions 15 - 24 of 28

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Question number: 15

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Explain producer’s equilibrium using schedule. Use total cost and total revenue approach.

Explanation

Producer earns maximum profits. Profit is the difference between total revenue and total cost. Producer is in equilibrium at that level of output where he is earning maximum profits. If he produces less than he does not maximize total profits.

Total cost and Total Revenue curves: -

Profit is the… (74 more words) …

Question number: 16

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table:

Price ( Rs. )

Output (units)

Total Revenue ( Rs. )

Marginal Revenue (Rs)

10

1

-

-

-

2

14

-

-

3

-

1

-

4

12

-

Explanation

Price ( Rs. )

Output (units)

Total Revenue ( Rs. )

Marginal Revenue (Rs)

10

1

10

-

7

2

14

4 (14 - 10)

5

3

15

1 (15 - 14)

3

4

12

-3 (12 - 15)

Here, Total revenue = price Equation Output

Marginal Revenue = Equation<span class="more">… (10 more words) …</span>

Question number: 17

» Producer Behaviour and Supply » Revenue

Short Answer Question▾

Write in Short

Define revenue.

Question number: 18

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table:

Output (units)

Average Revenue

Marginal revenue

Total revenue

1

-

15

-

2

-

-

26

3

11

-

-

4

-

3

-

Explanation

Output (units)

Average Revenue

Marginal revenue

Total revenue

1

15

15

15

2

13

11

26

3

11

7

33

4

9

3

36

In that sum

Average revenue = Equation

And Total Revenue = Equation

Here Equation

In that sum only second row is given total revenue so, Equation<span class="more">… (25 more words) …</span>

Question number: 19

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table:

Output (units)

Total Revenue ( Rs. )

Marginal Revenue ( Rs. )

Average Revenue ( Rs. )

1

-

-

8

2

-

4

-

3

12

-

4

4

8

-

2

Explanation

Output (units)

Total Revenue ( Rs. )

Marginal Revenue ( Rs. )

Average Revenue ( Rs. )

1

8

-

8 (8 Equation 1)

2

12

4 (12 - 8)

6 (12 Equation 2)

3

12

0 (12 - 12)

4 (12 Equation 3)

4

8

-4 (8 - 12)… (23 more words) …

Question number: 20

» Producer Behaviour and Supply » Revenue

True-False▾

Following Statement is true or false:

When marginal revenue is zero, average revenue will be constant.

Question number: 21

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Complete the following table:

Output (units)

Price ( Rs. )

Total Revenue

Marginal Revenue

4

9

36

-

5

-

-

4

6

-

42

-

7

6

-

-

8

-

40

-

Explanation

Output (units)

Price ( Rs. )

Average revenue

Total Revenue

Marginal Revenue

4

9

36

5

8

40

4

6

7

42

2

7

6

42

0

8

5

40

-2

In that sum

Average revenue = Equation

And Total Revenue = quantity Equation average revenue

Marginal revenue = Equation<span class="more">… (6 more words) …</span>

Question number: 22

» Producer Behaviour and Supply » Revenue

True-False▾

Following Statement is true or false:

When total revenue is maximum, marginal revenue is also maximum.

Question number: 23

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

Explain the basis of classifying government receipts into revenue receipts and capital receipts. Give two example of each.

Explanation

Revenue receipts: - Do not create liability and do not lead to reduction in assets.

Example: (i) receipts from tax revenue (ii) receipts from non-tax revenue

Capital receipts: - Create liability and lead to reduction in assets.

Example: (i) recoveries of loans (ii) receipts through disinvestment.

Question number: 24

» Producer Behaviour and Supply » Revenue

Essay Question▾

Describe in Detail

what is revenue deficit? What are its implications?

Explanation

Revenue deficit is generated when Revenue Receipts of government are less than Revenue Expenditure of the government.

Revenue deficit is related to revenue expenditure and revenue receipts of the government.

Revenue receipts and revenue expenditures are related to high revenue deficit and it gives some error to the government to… (106 more words) …

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