Please select a subject first
Advertisements
Advertisements
Explain whether the statement is true or false with reasons.
Total cost curve and Total variable cost curve are parallel to each other.
Concept: undefined >> undefined
What is opportunity cost? Explain with the help of a numerical example.
Concept: undefined >> undefined
Advertisements
Explain the concepts of Opportunity Cost and Marginal Rate of Transformation using a production possibility schedule based on the assumption that no resource is equally efficient in production of all goods.
Concept: undefined >> undefined
Define opportunity cost.
Concept: undefined >> undefined
A producer starts a business by investing his own savings and hiring the labour. Identify implicit and explicit costs from this information. Explain.
Concept: undefined >> undefined
Explain the difference between "Shift of Supply Curve" and "Movement along Supply Curve". State one factor responsible for each. Use diagrams.
Concept: undefined >> undefined
When does 'shift' in supply curve take place?
Concept: undefined >> undefined
What is 'change in supply'? Explain the effect of tax imposed on a good on the supply of the good.
Concept: undefined >> undefined
Which of the following does not cause shift of supply curve of a good?
(Choose the correct alternative)
(a) Price of input
(b) Price of the good
(c) Goods and services tax
(d) Subsidy
Concept: undefined >> undefined
Fill in the blank.
If the market supply of a commodity X changes due to improvement in technology, the market supply curve will ___________.
Concept: undefined >> undefined
Fill in the blank.
If the market supply of a commodity X changes due to a rise in the price of factor input, the market supply curve will ____________.
Concept: undefined >> undefined
Choose the correct answer from given options
If the supply curve is a straight line parallel to the vertical axis (Y-axis), supply of the good is called as _________.
Concept: undefined >> undefined
Explain the geometric method of measuring price elasticity of supply. Use Diagram.
Concept: undefined >> undefined
The price elasticity of supply of a good is 0.8. Its price rises by 50 percent. Calculate the percentage increase in its supply.
Concept: undefined >> undefined
Total revenue is Rs 400 when the price of the commodity is Rs 2 per unit. When price rises to Rs 3 per unit, the quantity supplied is 300 units. Calculate the price elasticity of supply.
Concept: undefined >> undefined
What is the law of diminishing marginal product?
Concept: undefined >> undefined
Choose the correct alternative from given options:
The average product curve in the input-output plane, will be ____________.
Concept: undefined >> undefined
Explain whether the statement is true or false with reasons.
Average product curve and Marginal product curves are 'U-shaped' curves.
Concept: undefined >> undefined
When does a production function satisfy constant returns to scale?
Concept: undefined >> undefined
When does a production function satisfy increasing returns to scale?
Concept: undefined >> undefined
