Download App

Production and cost — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsProduction and cost2 Marks
Question
Define variable costs. Explain the behaviour of total variable cost as output increases.
✓

Answer

Variable costs are the costs which vary with change in the level of output, e.g., expenditure on raw material, power and fuel etc.
TVC rises at decreasing rate in the beginning and then rises at increasing rate after a point as output increases.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "2 Marks Question" from Production and cost→Production and cost — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

Define production function. State the relation between marginal product and average product.

Or

Explain the relationship between marginal product and average product.

→
Distinguish between change in supply and change in quantity supplied. Which of these causes a shift of supply curve?
→
Distinguish between money value (or monetary value) and commodity value of money. Give a suitable example.
→
Distinguish between real and nominal gross domestic product.
→
Explain price elasticity of demand.
→
Define Average Revenue. Show that Average Revenue and Price are same.
→
The saving curve of an economy makes an intercept on negative axis at ₹ 50 crore and 20% of additional income is saved. Find out the consumption function.
→
The Price Elasticity of Supply of a commodity is 2. When its price falls from 10 to 8 per unit, its quantity supplied falls by 500 units. Calculate the quantity supplied at the reduced price.
→
Can there be a fiscal deficit without a revenue deficit?
→
In what circumstances may the production possibility frontier shift away from the origin? Explain.
→