Measures of Dispersion — Economics STD 11 Commerce — Question

Find average revenue and marginal revenue from the following data:

Units Sold	Total Revenue (₹)	Average Revenue (₹)	Marginal Revenue (₹)
1	10
2	24
3	33
4	40
5	40
6	36
7	28

Does correlation imply causation?

Give the formulae for computing:

1. Coefficient of Standard Deviation.
2. Coefficient of Variation.
3. Variance.

What factors are considered while selecting price quotations?

Explain Spearman's Rank Correlation method.

The following headline appeared in the Economic Times:
"Import duty on crude & refined edible oil up by 5%."
Use a diagram and economic theory to analyse the impact of the statement on the supply of crude and refined edible oil in the domestic market.

"Arithmetic mean is affected by very large and very small values but median and mode are not affected by them.” Explain.

Complete the following table:

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

Complete the following table. Identify the phase of production which is relevant from the viewpoint of producer's equilibrium.

Units of Labour	TP	AP	MP
1	4	-	-
2	12	-	-
3	24	-	-
4	32	-	-
5	36	-	-
6	36	-	-
7	28	-	-
8	16	-	-