MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question

Explain various functions of statistics.

What are the properties of standard deviation. Use illustrations to explain any one.

Find out the standard deviation from the following data after finding mean:

Class lnterval:	0-10	10-20	20-30	30-40	40-50
Frequency:	8	13	16	8	5

Total production of foodgrains of India was 2,500 lakh tonnes during 2015-16. Out of total production, the production of rice, wheat and other crops was 1,000, 900 and 600 lakh tonnes respectively. The percentage contribution of these crops was estimated 40%, 36% and 24%, respectively.
Present this data in tabular form along with its main parts.

The following table shows the distribution of 105 families according to their expenditure per week. Number of families corresponding to the expenditure groups ₹ 10-20 and ₹ 30-40 are missing from the table. The median and mode for the distribution are ₹ 25 and ₹ 24, respectively. Calculate the missing frequencies.

Elpenditure (in ₹)	0-10	10-20	20-30	30-40	40-50
Number of Families	15	?	27	?	15

Explain important terms related to a frequency distribution.

What do you understand by equilibrium price? How do the forces of demand and supply determine the equilibrium price?

Represent the following data by an appropriate bar diagram.
Index Numbers of Agricultural Production

(base 1991-92 = 100 and figures of the nearest of unit value)

Foodgrains
Year	Rice	Wheat	Pulses
1999-2000	149	157	141
2000-01	162	170	131
2001-02	165	187	139
2002-03	155	176	121
2003-04	164	197	140
2004-05	166	189	127
2005-06	173	201	145

In a trip, organised by a college, there were 80 people, each of whom paid ₹ 15.50 on an average. There were 60 students, each of whom paid ₹ 16. Members of teaching staff were charged at a higher rate, the number of servants (all males) were 6 and they were not charged anything. The number of females were 20% of the total and there was only one female staff member. Tabulate this information.

Suppose an economy produces only two goods, namely wheat and cloth, with its available resources. Following table shows different possibilities of production of wheat and cloth. Calculate the marginal opportunity cost of cloth at various combinations. Also, draw the production possibility curve.

Cloth (Thousand bales)	0	1	2	3	4
Wheat (Lakh tonnes)	100	90	70	40	0