Model Paper 5 — Economics STD 11 Commerce — Question

The market demand curve for a commodity and the total cost for a monopoly firm producing the commodity is given by the schedules below. Use the information to calculate the following:

Quantity	0	1	2	3	4	5	6	7	8
Price	52	44	37	31	26	22	19	16	13

Quantity	0	1	2	3	4	5	6	7	8
Total Cost	10	60	90	100	102	105	109	115	125

Use the information given to calculate the following:
a. The MR and MC schedules
b. The quantities for which MR and MC are equal
c. The equilibrium quantity of output and the equilibrium price of the commodity
d. The total revenue, total cost and total profit in the equilibrium

Calculate coefficient of variation from the following data.

Number of Goals Scored:	0	1	2	3	4
Number of Matches Played:	27	9	8	5	4

Mention merits and demerits of Mean. And list out any three examples of scope of averages in your class room.

Convert the following into ordinary frequency distribution:

1.  

Less than	25	30	35	40	45	50
f	8	22	50	85	105	12

2.  

More than	0	10	20	30	40	50
f	50	46	40	20	11	4

Define price elasticity of supply. How is it measured?

The Indian Sugar Mills Association reported that, ‘Sugar production during the first fortnight of December 2001 was about 3,87,000 tonnes, as against 3,78,000 tonnes during the same fortnight last year (2000). The off-take of sugar from factories during the first fortnight of December 2001 was 2,83,000 tonnes for internal consumption and 41,000 tonnes for exports as against 1,54,000 tonnes for internal consumption and nil for exports during the same fortnight last season.’

1. Present the data in tabular form.
2. Suppose you were to present these data in diagrammatic form which of the diagrams would you use and why?
3. Present these data diagrammatically.

The following table shows the total cost schedule for a competitive firm. It is given that the price of the good is ₹ 10. Calculate the profit at each output level. Find the profit-maximizing level of output.

Output	TC (₹)
0	5
1	15
2	22
3	27
4	31
5	38
6	49
7	63
8	81
9	101
10	123

Describe the procedure of drawing a histogram when class intervals are:

1. Equal.
2. Unequal.

Define Mode. Discuss its merits and demerits.