Download App

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

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 8 CONCEPTS OF COST2 Marks
Question
Does long period TC curve starts from the origin?
✓

Answer

Yes. Long period total cost (TC) curve starts from the origin (or zero) because in the long period, all costs are variable costs and variable costs always vary with output, so that when output is zero, variable costs are also zero.

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 MICROECONOMICS CH : 8 CONCEPTS OF COST→MICROECONOMICS CH : 8 CONCEPTS OF COST — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Suppose the price elasticity of demand for a good is -0.2. How will the expenditure on the good be affected if there is a 10 per cent increase in the price of the good?
→
Why a firm under perfect competition will not lower the price to increase its sales?
→
Perfect competition is no competition. How?
→
Firm's demand curve as a horizontal straight line under perfect competition shows that an individual producer has no control over price of his product.' Defend or refute the given statement.
→
MRS (marginal rate of substitution) along an indifference curve tends to diminish. Comment.
→
What is the relation between Good-X and Good-Y, if with rise in the price of Good-X, demand for Good-Y rises? Give an example.
→
What do you understand by positive economic analysis?
[Hint: Positive economic analysis is that branch of economics which deals with such issues which are verifiable.]
→
Explain market equilibrium.
→
What is the supply curve of a firm in the short run?
→
Can TP ever fall when more and more of the variable factor is combined with the fixed factor?
→