MICROECONOMICS CH : 8 CONCEPTS OF COST — Economics STD 11 Commerce — Question

Which method is considered 'ideal' for constructing index number and why?

Can coefficient of correlation be 1.98? Why?

What is a price maker firm?

Identify two situations when actual output is less than potential output.

What do you understand by substitutes ?

“The quick brown fox jumps over the lazy dog” Examine the above sentence carefully and note the numbers of letters in each word. Treating the number of letters as a variable, prepare a frequency array for this data.

Why does variable cost curve originate from the point of origin?

Collect the price of five vegetables from your local market every day for a week. Calculate their correlation coefficients. Interpret the result.

State the meaning of classification.

Discuss how you would use the lottery method to select 3 students out of 10 in your class.