MICROECONOMICS CH : 9 CONCEPT OF REVENUE — Economics STD 11 Commerce — Question

Represent the following data by an appropriate bar diagram.
Import and Export of India

Year	Impoet in Current Price (₹ in thousand crore)	Export in Current Price (₹ in thousand crore)
2002-03	139	119
2003-04	154	130
2004-05	176	142
2005-06	149	119

Find the profit maximising level of output.

Quantity Sold ( Units )	Total Revenue ( ₹ )	Marginal Cost (₹)
1	12	15
2	26	9
3	34	6
4	40	2
5	42	3

'Statistics is defined as aggregate of numerical facts.' Give a few examples.
OR
‘Statistics are figures, but all figures are not statistics'. Justify the statement.

Compute mean deviation from mean and coefficient of mean deviation:

Weekly Wages (ₛ):	200-400	400-600	600-800	800-1000
No. of Workers:	20	40	30	10

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

1. Equal.
2. Unequal.

Differentiate between graphs and diagrams.

Draw straight line supply curves with price elasticity of supply equal to (i) one, (ii) less than one, (iii) more than one, (iv) infinity, and (v) zero.

Distinguish between cardinal and ordinal measurement of utility.

List any three determinants of supply of a commodity.

A consumer buys 80 units of a good at a price of ₹4 per unit. When the price falls, he buys 100 units. If price elasticity of demand is (-) 1, find out the new price.