Introduction — Economics STD 12 Humanities & Commerce — Question

Why a monopolist is considered as price maker?

Calculate MC and TC from the following cost schedule of a firm whose total fixed costs are ₹ 15.

Output (units)	1	2	3	4
TVC (₹)	10	19	29	40

State whether the following statements are true or false. Give reasons for your answer.

1. When Marginal Propensity to consume is greater than Marginal Propensity to Save, the value of investment multiplier will be greater than 5.
2. The value of Marginal Propensity to Save can never be negative.

Classify the into durable, non-durable, semi-durable or service.
Visit of a physician.

Foreign exchange rate in India is on the rise recently. What impact is it likely to have on exports and how?

Explain how surplus budget is a useful measure to control inflation. Is it possible to follow such a policy in India?

What is meant by transfer income?

Microeconomics and Macroeconomics are not independent of each other.

Explain how 'non-monetary exchanges' are a limitation of the Gross Domestic Product (GDP) as an indicator of welfare.

Given below is the cost schedule of a firm. Its average fixed cost is Rs. 20 when it produces 3 units.

Output (units)	1	2	3
Average variable cost (Rs.)	30	28	32

Calculate its marginal cost and average total cost at each given level of output.