Cost and Revenue Analysis Model Question Paper

11th Standard

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Economics

Time : 01:00:00 Hrs
Total Marks : 40
    5 x 1 = 5
  1. Cost refers to _____.

    (a)

    Price 

    (b)

    value

    (c)

    fixed cost

    (d)

    cost of production

  2. Explicit costs are termed as

    (a)

    out of pocket expenses

    (b)

    real cost

    (c)

    social cost

    (d)

    sunk cost

  3. The cost that remains constant at all levels of output is _____ cost.

    (a)

    fixed

    (b)

    variable

    (c)

    real

    (d)

    social

  4. Wage is an example for _____ cost of the production.

    (a)

    fixed

    (b)

    variable

    (c)

    marginal

    (d)

    opportunity

  5. Find total cost where TFC = 100 and TVC = 125.

    (a)

    125

    (b)

    175

    (c)

    225

    (d)

    325

  6. 5 x 2 = 10
  7. Define cost.

  8. Define Revenue.

  9. Give the definition for 'Real cost'.

  10. What is meant by sunk cost?

  11. Give example for TFC.

  12. 5 x 3 = 15
  13. Distinguish between fixed cost and variable cost.

  14. Distinguish between explicit cost and implicit cost.

  15. State the relationship between AC and MC.

  16. Discuss the Long run cost curves with suitable diagram.

  17. Define Accounting cost.

  18. 2 x 5 = 10
  19. Discuss the short run cost curves with suitable diagram?

  20. Explain briefly total cost with a suitable diagram.

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