Complete the following table:Units of labour Average Product (Un

Subject

Economics

Class

CBSE Class 12

Pre Boards

Practice to excel and get familiar with the paper pattern and the type of questions. Check you answers with answer keys provided.

Sample Papers

Download the PDF Sample Papers Free for off line practice and view the Solutions online.
Advertisement

 Multiple Choice QuestionsShort Answer Type

1.

Give two examples of fixed costs.

1817 Views

2.

Define marginal cost.

567 Views

3.

When is the demand for a good said to be inelastic?

1295 Views

4.

Given the meaning of market demand.

848 Views

Advertisement
5.

Under which market form a firm’s marginal revenue is always equal to price?

1049 Views

6.

Explain the difference between an inferior good and a normal good.

1307 Views

7.

Explain the law of diminishing marginal utility with the help of a total utility schedule.

1608 Views

8.

Explain the condition of consumer’s equilibrium with the help of utility analysis. 

2036 Views

Advertisement
9.

When the price of a good rises from Rs 20 per unit to Rs 30 per unit, the revenue of the firm producing this good rises from Rs 100 to Rs 300. Calculate the price elasticity of supply. 

1107 Views

Advertisement

10. Complete the following table:

Units of labour Average Product (Units) Marginal Product (Units)
1 8 -
2 10 -
3 - 10
4 9 -
5 - 4
6 7 -


Units of Labour Average Product (units)
(Total Product * units of labour)
Marginal Product(units)
(TPn- Tpn-1
Total Product(units)
(Avg Pdt *  units of labour) 
1 8 - 8
2 10 12(20 - 8) 20 (10 x 2)
3 10(30/3) 10 30 (10+20)
4 9 6 (36-30) 36 (9 x 4)
5 8(40/5) 4 40 (36+4)
6 7 2 (42 - 40) 42 (7 x 6)
828 Views

Advertisement
Advertisement