What is the behaviour of average revenue in a market in which a

Subject

Economics

Class

CBSE Class 12

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Sample Papers

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 Multiple Choice QuestionsShort Answer Type

1.

Give meaning of an Economy.

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2.

What is market Demand?

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3.

What is the behaviour of average fixed cost as output increases?

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4.

What is the behaviour of average revenue in a market in which a firm can sell more only by lowering the price?


AR curve slope downward in a market in which firm can sell more only by lowering price.

 

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5.

What is a price taker firm?

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6.

What is opportunity cost? Explain with the help of a numerical example.

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7.

Given price of a goods, how does a consumer decide as to how much of the good to buy?

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8.

Draw Average Variable Cost, Average Total Cost ad Marginal Cost curves in a single diagram.

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9.

An individual is both the owner and the manager of a shop taken on rent. Identify implicit cost and explicit cost from this information. Explain.

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10.

Explain the implication of large number of buyers in a perfectly competitive market.

 

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