Introduction — Economics STD 12 Humanities & Commerce — Question

The table give points on an indifference curve for a consumer. Sketch the indifference curve.

Combination	Good X	Good Y
A	1	15
B	2	11
C	3	8
D	4	6
E	5	5

A monopoly firm has a total fixed cost of Rs. 100 and has the following demand schedule:

Quantity	1	2	3	4	5	6	7	8	9	10
Price	100	90	80	70	60	50	40	30	20	10

Find the short run equilibrium quantity, price and total profit. What would be the equilibrium in the long run? In case the total cost was Rs. 1000, describe the equilibrium in the short run and in the long run.

Draw the total variable cost curve.

When the price of a commodity rises from Rs10 to Rs11 per unit, its quantity supplied rises by 100 units. Its Price Elasticity of Supply is 2. Calculate its quantity supplied at the increased price.

If Marginal Propensity to Save is one, what is the value of multiplier? What can you say about the change in National Income, given change in investment.

Discuss the various ways in which a monopoly market structure may arise.

In an economy, aggregate demand is greater than aggregate supply. Explain the changes that will take place in this economy.

Explain the evolution of money.

Suppose the price of a good is higher than equilibrium price. Explain the changes that will establish equilibrium price.

Distinguish between ‘autonomous’ and ‘accommodating’ Balance of Payments transactions.