Non-Competitive Markets — Economics STD 12 Humanities & Commerce — Question

Explain the condition of consumer’s equilibrium with the help of utility analysis.

Distinguish between ‘increase in demand’ and ‘increase in quantity demanded’ of a commodity.

State the relation between total cost and marginal cost.

Suppose that a sole proprietorship is earning total revenue of * 1,00,000 and is incurring explicit costs of 75,000. If the owner could work for another company for 30,000 a year, would you conclude that the firm is incurring an economic loss or getting profit?

How a linear demand curve is different from a non-linear demand curve?

A consumer consumes only two goods X and Y and is in equilibrium. Price of X falls. Explain the reaction of the consumer through the utility analysis.

Give meanings of capital receipts and revenue receipts with an example of each.

Why is an Indifference curve generally convex to the origin?

State components of the current account of balance of payments account.

When price of a foreign currency rises, its supply also rises. Explain why.