Production and cost — Economics STD 11 Commerce — Question

‘At the initial stages of production, TVC increases at a diminishing rate'. Justify.

Ms Pratima was hungry, hence she decided to eat bananas, however, after eating 2 bananas, she suddenly realised that, now she is not enjoying eating any further unit. Hence, she decided to eat rest of the bananas later on. Identify the reason behind the above case. Also. state the underlying assumptions.

Show that demand of a commodity is inversely related to its price. Explain with the help of utility analysis.

Starting from an initial situation of consumer's equilibrium, suppose MU of rupee increases. Will it increase or decrease the quantity demanded of the product?

Individual demand schedule and Market demand schedule.

What is the general shape of the AP and MP curves?

8 units of a good are demanded at a price of Rs. 7 per unit. Price elasticity of demand is (-)1. How many units will be demanded if the price rises to Rs. 8 per unit? Use expenditure approach of price elasticity of demand to answer this question.

Derive MU Schedule from TU Schedule

Units of x	TU
1	11
2	21
3	30
4	38
5	45
6	51
7	56
8	60

With the same amount of resources, a farmer can feed the following combinations of goats and cows:

Option	Goats	Cows
I	188	64
II	170	70

With the given options, what is the opportunity cost of the farmer feeding one cow?

Given below are four statements. Indicate for each whether it reflects an increase or decrease in demand; quantity demanded; supply; quantity supplied.

1. Air Deccan reduces its average plane fare by 30% in order to attract more passengers.
2. The government grants export subsidy to producers of oranges in Nagpur to increase the sale of oranges abroad.
3. Wheat farmers decide to withhold wheat as the market price is low.
4. OPEC decides to increase the international oil price.