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    XI ECO CH 6 Micro

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    3103.jk

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    XI ECO CH 6 Micro

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    6 views2 pages

    XI ECO CH 6 Micro

    Uploaded by

    3103.jk

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    © All Rights Reserved
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    ASSIGNMENT (CLASS XI) CH 6 (COST) MICRO ECONOMICS

    Q 1 Read the following statements: Assertion (A) and Reason (R). Choose one of the
    correct alternatives
    given below:
    Assertion (A): TFC curve is a vertical straight line parallel to the Y-axis.
    Reason (R): TFC remains same at all levels of output, even if the output is zero.
    Alternatives:
    (a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct
    explanation of Assertion (A).
    (b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct
    explanation of Assertion (A).
    (c) Assertion (A) is True but Reason (R) is False.
    (d) Assertion (A) is False but Reason (R) is True.
    Q 2 Read the following statements carefully and choose the correct alternatives from the
    following:
    Statement 1: The sum of explicit cost and implicit cost is the total cost of
    production of a commodity.
    Statement 2: Explicit cost is in the nature of contractual payment, while no
    contractual obligation for
    payment is required in case of implicit cost.
    Q3 Statement 1: Fixed Cost is also known as Supplementary Cost.
    Statement 2: Total Fixed Cost (TFC) is vertical straight line parallel to the Y-axis
    because TFC remains
    same at all levels of output, even if the output is zero.
    Alternatives:
    (a) Both the statements are true.
    (b) Both the statements are false.
    (c) Statement 1 is true and Statement 2 is false.
    (d) Statement 2 is true and Statement 1 is false.
    Q4 TVC can be calculated as:
    (a) AVC/Q (b)∑MC (c) TC- TFC (d) Both (b) & (c)
    Q 5 The costs which vary as the level of output varies are called:
    (a) Prime cost (b) Indirect cost (c) Real cost (d) None of
    these
    Q 6 The average cost is Rs 20 & it is minimum when 04 units are produced. The marginal
    cost of producing
    04 nits is:
    (a) Rs 20 (b)Rs 80 (c) Rs 24 (d) Rs 05
    Q 7 Why is short run average cost curve U- shaped?
    Q 8 A firm is producing 20 units. At this level of output, ATC and AVC are respectively
    equal to ₹40 and
    ₹37.Find out the total fixed cost of the firm
    Q 9 TC rises from ₹30 to ₹55 when the output increases from 5 units to 6 units. Find out
    the MC of 6th unit.

    Q 10 Complete the following table

    Output (Units) Price (₹) Total Revenue (₹) Marginal Revenue (₹)
    4 9 36 -
    5 - - 4
    6 - 42 -
    7 6 - -
    8 - 40 -
    Q 11 The total cost curve makes an intercept of ₹ 50 on the Y-axis. Calculate total fixed
    cost and total variable cost.
    Output(units) 1 2 3 4
    TC(₹) 65 90 120 160
    Q 12 The distance between AVC & AFC curves tend to reduce as output increases. Is it
    true?
    Q 13 What is total cost, average cost and Marginal cost? Explain the relationship between
    average cost
    and marginal cost with the help of table and diagram.

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