Question
Define variable cost. Explain the behaviour of total variable cost as output increases.
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
| Output (Q) (units) | Price (₹) | Marginal Revenue (₹) | Total Revenue (₹) |
|
1
|
-
|
10
|
10
|
|
2
|
-
|
4
|
-
|
|
3
|
-
|
-
|
15
|
|
4
|
-
|
-3
|
-
|
The following data shows the number of cars manufactured by Maruti Ltd, Tata Motors and Hyundai in the year 2015-16. Represent it with the help of a piediagram.
Production of Cars (in Rs.)
Maruti Limited | 15,75,000 |
Tata Motors | 7,25,000 |
Hyundai | 5,50,000 |
|
Total Output
(Units)
|
Total Cost (Rs)
|
|
0
|
120
|
|
1
|
180
|
|
2
|
200
|
|
3
|
210
|
|
4
|
230
|
|
5
|
270
|
|
6
|
360
|
| Output (units) | Total Revenue (₹) | Marginal Revenue (₹) | Average Revenue (₹) |
|
$1$
|
$14$
|
-
|
-
|
|
$2$
|
$24$
|
-
|
-
|
|
$3$
|
$24$
|
-
|
-
|
|
$4$
|
$16$
|
-
|
-
|