MICROECONOMICS CH : 9 CONCEPT OF REVENUE — Economics STD 11 Commerce — Question

What is the relation of TP with MP in different stages of the operation of the law of variable proportions?

What is ‘loss of information’ in classified data?

The price quotation of different commodities for 2014 and 2015 are given below. Calculate the index number for 2015 with 2014 as base year by using:

1. Simple Average of Price Relative.
2. Weighted Average of Price Relative.

Commodity	Unit	Weight	Price ( ₹)
			2014	2015
A	Kg	5	2.00	4.50
B	Qunintal	7	2.50	3.20
C	Dozen	6	3.00	3.50
D	Kg	2	1.00	1.80

Complete the following table:

Output (Units)	Average Fixed Cost (₹)	Average Variable Cost (₹)	Marginal Cost (₹)	Total Cost (₹)
1	120	40	-	-
2	60	56	-	232
3	-	54	-	-
4	30	-	54	-

How does the level of price of a good affect the price elasticity of demand? Explain.

The price paid and quantities purchased by a household in base and current years are given below. Calculate the additional dearness allowance to be given to the household so as to fully compensate it for the price rise, using both the Laspeyre's and Paasche's index number.

Commodity	Base Year		Current Year
	Price (₹)	Quntity	Price (₹)	Quntity
A	30	10	40	8
B	12	20	15	18

Prepare the frequency array of marks obtained by 25 students of a class in economics test 20, 15, 20, 30, 40, 25, 25, 30, 40, 20, 35, 35, 50, 15, 50, 25, 40, 40, 30, 50, 25, 30, 30, 15, 45.

Statistics are not a substitute to common sense. Explain this statement with examples.

Why does rank correlation coefficient differ from Pearsonian correlation coefficient?