Introduction — Economics STD 11 Commerce — Question

How does an increase in demand for a commodity affect its equilibrium price and equilibrium quantity? Explain with the help of a diagram.

Some measures of dispersion depend upon the spread of values whereas some are estimated on the basis of the variation of values from a central value. Do you agree?

From the following data, calculate coefficient of quartile deviation.

Wages less than:	10	20	30	40	50	60	70
No. of Workers:	5	8	15	20	30	33	35

Show inequality in wages in two different firms using Lorenz Curve from the following data:

Wages (₹)	No. of Workers
	Firm A	Firm B
50-70	20	150
70-90	15	100
90-110	20	90
110-130	25	110
130-150	20	50

Explain the factors that shift the demand curve to the right.

A firm experiences fixed cost of ₹ 45 and average variable cost as depicted in the table below. Read the table carefully and answer the questions listed below the same:

Output (Units)	AVC (₹)
1	17
2	15
3	14
4	15
5	19
6	29

(i) Using the data given above estimate average fixed cost, average total cost, total cost and marginal cost.
(ii) Plot AVC, ATC, SMC and check whether MC cuts the other two curves from their minimum point or not.
(iii) If the production of the firm was to be increased from 5 to 6 units the short run marginal cost would tend to rise; state whether true or false with a reason.

What are the essentials of a good statistical table?

Briefly explain the guidelines for preparing a good table.

Find the mean deviation and its coefficient from the given data.

Class lnterval	Frequency (f)
17.5-22.5	2
22.5-27.5	4
27.5-32.5	6
32.5-37.5	8
37.5-42.5	6
42.5-47.5	4
47.5-52.5	2
52.5-57.5	2