MICROECONOMICS CH : 4 CONSUMER'S EQUILIBRIUM INDIFFERENCE CURVE ANALYSIS — Economics STD 11 Commerce — Question

Derive average revenue and marginal revenue from total revenue with the help of a table.

What do you mean by the term supply? Discuss the law of supply with the help of a table and diagram.

State any four difficulties in constructing index numbers.

Explain the relationship between marginal product and total product, using a suitable diagram.

Answer the following questions
(i) The measure of price elasticity of demand of a normal goods carries minus sign while price elasticity of supply carries plus sign. Explain why?
(ii) A commodity showing high elasticity of demand often has a large number of close substitutes in the market. Do you agree?

Determine the Median graphically:

Marks	0-5	5-10	10-15	15-20	20-25	25-30	30-35	35-40
No. of Students	4	6	10	10	25	22	18	5

Draw a histogram of the following data:

Age (in years)	0-10	10-20	20-30	30-40	40-50	50-70	70-100
No. of Persons	5	15	18	22	35	30	15

Construct the following indices by taking 2015 as the base:

1. Simple Aggregative Price Index.
2. Index of Average of Price Relatives.

Items	A	B	C	D	E
Prices ₹ (2015)	6	2	4	10	8
Prices ₹ (2016)	10	2	6	12	12
Prices ₹ (2017)	15	3	8	14	16

What are the main objectives of tabulation? Do all tables fulfill these objectives?