Measures of Dispersion — Economics STD 11 Commerce — Question

Define index number. Give some of its uses.

What prevents a perfectly competitive firm to lower the product price and capture the entire market?

Represent the following data by means of a component bar diagram:

Year	Males (in crores)	Females (in crores)	Total Population (in crores)
2015	25	10	35
2016	30	20	50
2017	50	25	75

"Index numbers measures the changes in the variables under study.” Name some of the variables in which the changes are studied.

Name the graphic method of measuring dispersion. Write its three demerits.

What is meant by Consumer Price Index? Explain any two uses of Consumer Price Index (CPI).

If the points in a scatter diagram tend to cluster in a straight line which makes an angle of 30° with the X-axis, what would you say about the strength of association between X and Y?

Complete the following table:

Output (Units)	Average Revenue (₹)	Marginal Revenue (₹)	Total Revenue (₹)
1	-	15	-
2	-	-	26
3	11	-	-
4	-	3	-

Enumerate the different cases for which this method of survey is suitable.

Calculate the profit from the following:

Output (Units)	Total Revenue (₹)	Total Cost (₹)
1	7	8
2	5	10
3	4	12
4	2	15
5	1	16