Presentation of Data — Economics STD 11 Commerce — Question

Given below is the cost schedule of a product produced by a firm. The market price per unit of the product at all levels of output is ₹ 12. Using marginal cost and marginal revenue approach, find out the level of equilibrium output. Give reasons for your answer:

Output (Units)	1	2	3	4	5	6
Average Cost (₹)	12	11	10	10	10.4	11

Distinguish between substitute good and complementary good.

Giving reason, comment on the shape of production possibilities curve based on the following schedule:

Good-X (Units)	0	1	2	3	4
Good-Y (Units)	20	18	14	8	0

How do changes in marginal revenue affect total revenue?

Calculate weighted aggregative price index with Laspeyre's method from following data.

Items	Base year Price	Current Year Price	Base year Quantity	Current Year Quantity
A	40	60	12	15
B	20	24	8	10
C	50	55	12	15
D	50	55	12	15
E	30	42	20	22

Present the following table in the form of more than series:

Class Interval	Frequncy
10-20	12
20-30	13
30-40	18
40-50	13
50-60	12
60-70	9
70-80	8
80-90	1
Total	86

Distinguish between Lasperey's and Paasche's index numbers.

Why does the difference between average cost curve and average variable cost curve gradually decline?

Averge daily wage of 50 workers of a factory was ₹ 200 with a standard deviation of ₹ 40. Each worker is given a raise of ₹ 20. What is the new average daily wage and standard deviation? Have the wages become more or less uniform?