Producer Behaviour and Supply-Revenue [CBSE (Central Board of Secondary Education) Class-12 Economics]: Questions 14 - 21 of 28
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Question 14
Describe in Detail Subjective▾
Complete the following table.
Price (₹) | Output (units) | Total Revenue (₹) | Marginal Revenue (₹) |
7 | - | 7 | - |
- | 2 | 10 | - |
- | 3 | - | (-) 1 |
1 | - | - | (-) 5 |
Explanation
… (15 more words) …
Question 15
Describe in Detail Subjective▾
Explain producer՚s equilibrium using schedule. Use total cost and total revenue approach.
EditExplanation
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 difference between total revenue and total cost. Profit …
… (60 more words) …
Question 16
Describe in Detail Subjective▾
Complete the following table:
Price (₹) | Output (units) | Total Revenue (₹) | Marginal Revenue (Rs) |
10 | 1 | - | - |
- | 2 | 14 | - |
- | 3 | - | 1 |
- | 4 | 12 | - |
Explanation
Price (₹) | Output (units) | Total Revenue (₹) | 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 Output
Marginal Revenue = -
Price =
… (7 more equations) …
Question 18
Describe in Detail Subjective▾
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 =
And Total Revenue =
… (16 more equations, 6 figures) …
Question 19
Describe in Detail Subjective▾
Complete the following table:
Output (units) | Total Revenue (₹) | Marginal Revenue (₹) | Average Revenue (₹) |
1 | - | - | 8 |
2 | - | 4 | - |
3 | 12 | - | 4 |
4 | 8 | - | 2 |
Explanation
Output (units) | Total Revenue (₹) | Marginal Revenue (₹) | Average Revenue (₹) |
1 | 8 | - | 8 (8 1) |
2 | 12 | 4 (12 - 8) | 6 (12 2) |
3 | 12 | 0 (12 - 12) | 4 (12 3) |
4 | 8 | -4 (8 - 12) | 2 (8 4) |
In this sum Here, Marginal Revenue = -
Average Revenue =
… (13 more equations) …
Question 20
Statement True-False▾
When marginal revenue is zero, average revenue will be constant.
Choices
Choice (4) | Response | |
---|---|---|
a. | False | |
b. | True | |
c. | None of the above | |
d. | Question does not provide sufficient data or is vague |
Question 21
Describe in Detail Subjective▾
Complete the following table:
Output (units) | Price (₹) | Total Revenue | Marginal Revenue |
4 | 9 | 36 | - |
5 | - | - | 4 |
6 | - | 42 | - |
7 | 6 | - | - |
8 | - | 40 | - |
Explanation
Output (units) | Price (₹) 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 =
… (6 more equations) …