Introduction — Economics STD 12 Humanities & Commerce — Question

A producer supplies ₹ 200 units of a good at a price of ₹ 10 per unit. Price elasticity of supply is 2. How many units will the producer supply at ₹ 11 per unit.

How are capital receipts different from revenue receipts? Discuss briefly.

Explain the implications of the following features of monopolistic competition.

1. Product differentiation.
2. Free entry or exit of firms.

Differentiate between Short Period production and Long Period production function.

Does production take place only on the PP curve?

Calculate 'Net Domestic Product at Factor Cost' by the expenditure method and the production method:

S. No.		(in crores)
(i)	Value of output in the economic territory.	4,100
(ii)	Net imports.	(-)50
(iii)	Intermediate purchases by the primary sector.	600
(iv)	Private final consumption expenditure.	1,450
(v)	Intermediate purchases by the secondary sector.	700
(vi)	Government final consumption expenditure.	400
(vii)	Net domestic fixed capital formation.	200
(viii)	Intermediate purchases by the tertiary sector.	700
(ix)	Net change in stocks.	(-)50
(x)	direct taxes.	100
(xi)	Consumption of fixed capital.	50

From the following information about a firm, calculate Average Product and Marginal Product.

Labour	10	20	30	40	50
Total Product	100	220	360	460	500

Show with the help of a diagram, the effect on equilibrium price and quantity of a commodity when.

1. Demand is perfectly elastic and supply decreases.
2. Supply is perfectly inelastic and demand increases.
3. The demand curve perfectly elastic and the supply curve shifts out.

Find out average fixed cost in:

Total Output (Units)	Total Cost (Rs)
0	120
1	180
2	200
3	210
4	230
5	270
6	360