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Chapters
2: Consumer's Behavior
3: Demand Analysis
4: Elasticity of Demand
▶ 5: Producer's Behaviour
6: Forms of Market and Price Determination Under Perfect Competition
7: Factors of Production
8: Introduction to Macro Economics
9: National Income
10: Determinants of Aggregates
11: Money
12: Commercial Banking
13: Central Banking
14: Public Economics
![Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 5 - Producer's Behaviour - Shaalaa.com](/images/economics-english-12-standard-hsc_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 5 - Producer's Behaviour")
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Solutions for Chapter 5: Producer's Behaviour
Below listed, you can find solutions for Chapter 5 of Maharashtra State Board Micheal Vaz for Economics [English] 12 Standard HSC.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 5 Producer's Behaviour Exercise 1 [Page 44]
Fill in the blank with appropriate alternative given below
_________________________ determines the potential supply.
Stock
Output
Supply
Flow
Fill in the blank with appropriate alternative given below
When the price rises, there is __________ of supply.
extension
contraction
decrease
increase
Fill in the blank with appropriate alternative given below
The vertical supply curve represents _____________ elasticity.
zero
unit
constant
less
Fill in the blank with appropriate alternative given below
An increase in supply means selling a ____________ amount at the same price.
larger
smaller
constant
less
Fill in the blank with appropriate alternative given below
Total Revenue ÷ Number of units Sold = ________________ .
Average Cost
Average Revenue
Marginal Cost
Total Cost
Match the following:
| Group A | Group B |
| 1) Perfectly Elastic Supply | a. Vertical supply curve |
| 2) Stock | b. Horizontal supply curve |
| 3) Increase in supply | c. Potential supply |
| 4) Perfectly Inelastic supply | d. Rightward shift in supply curve |
| 5) `"TC"/"TQ"` | e. Leftward shift in |
| f. Average cost |
State whether the following statement is TRUE and FALSE.
If price falls, the supply curve will shift to left.
True
False
State whether the following statement is TRUE and FALSE.
Stock is the source of supply.
True
False
State whether the following statement is TRUE and FALSE.
Supply is indirectly related to price.
True
False
State whether the following statement is TRUE and FALSE.
Geometric Method is also known as Point Method.
True
False
State whether the following statement is TRUE and FALSE.
Total Cost is the total expenditure incurred by a firm.
True
False
State whether the following statement is TRUE and FALSE.
Supply for perishable goods is inelastic.
True
False
Micheal Vaz solutions for Economics [English] 12 Standard HSC 5 Producer's Behaviour Exercise 2 [Page 45]
Define or explain the following concept:
Total Cost
Define or explain the following concept:
Stock
Define or explain the following concept:
Output
Define or explain the following concept:
Elasticity of Supply
Define or explain the following concept:
Marginal Cost
Define or explain the following concept:
Average Revenue
Give reason or explain:
Supply is directly related to price.
Give reason or explain:
Stock can exceed supply.
Give reason or explain:
When price rises, supply expands.
Give reason or explain:
The supply of agricultural commodity is relatively inelastic.
Give reason or explain:
With a slight change in the price, if supply varies in a greater proportion then supply is said to be relatively elastic.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 5 Producer's Behaviour Exercise 3 [Page 45]
Distinguish between:
Stock and Supply
Distinguish between the following:
Individual Supply and Market Supply
Distinguish Between:
Expansion of supply and Contraction of supply.
Distinguish between the following:
Relatively Elastic Supply and Relatively Inelastic Supply
Distinguish between average revenue and average cost.
Write short note on the following:
Elasticity of supply.
Write a short note on the following:
Market supply schedule.
Write short note on the following:
Change in supply.
Write short note on the following:
Percentage method.
Write short note on the following:
Labour supply curve.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 5 Producer's Behaviour Exercise 4 [Page 45]
Answer the following about 200 to 250 words
What are the assumptions law of supply?
Explain the determinants of supply.
Answer the following question:
What are the exceptions to the law of supply?
Answer the following question:
Explain the concept of Total Cost, Average Cost and Marginal Cost.
Do you agree or disagree with the following statement? Give reason.
There is no difference between stock and supply.
Do you agree or disagree with the following statement? Give reason.
Price is the only determinant of supply.
Do you agree or disagree with the following statement? Give reason.
The backward slopping supply curve shown as inverse relationship between supply of labour and wage rate.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 5 Producer's Behaviour Exercise 5 [Page 45]
State and explain the law of supply.
Answer the following about 200 to 250 words
What are the assumptions law of supply?
Answer the following about 200 to 250 words
State and explain the law of supply. What are the exceptions to this law?
Answer the following about 200 to 250 words
Explain various types of Price elasticity of Supply.
Answer the following about 200 to 250 words
Explain various methods to measure Price Elasticity of Supply.
Solutions for 5: Producer's Behaviour
Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 5 - Producer's Behaviour
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Concepts covered in Economics [English] 12 Standard HSC chapter 5 Producer's Behaviour are Law of Supply, Market Supply Schedule.
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