#### Cost and Revenue Analysis Model Question Paper

11th Standard

Reg.No. :
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Economics

Time : 01:00:00 Hrs
Total Marks : 50
5 x 1 = 5
1. Cost functions are also known as _____ function.

(a)

production

(b)

investment

(c)

demand

(d)

consumption

2. Identify the formula of estimating average variable cost.

(a)

TC/Q

(b)

TVC/Q

(c)

TFC/Q

(d)

TAC/Q

3. The cost per unit of output is denoted by _____ cost.

(a)

average

(b)

marginal

(c)

variable

(d)

total

4. Find total fixed cost where TC = 500 and TVC= 100.

(a)

100

(b)

200

(c)

300

(d)

400

5. _____ is the summation of explicit and implicit costs.

(a)

Sunk Cost

(b)

Prime Cost

(c)

Economic Cost

(d)

Variable Cost

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

8. Define Revenue.

9. What is meant by sunk cost?

10. Write a short note on floating cost.

11. Define Opportunity cost?

12. 5 x 3 = 15
13. Distinguish between explicit cost and implicit cost.

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

15. Explain the concept of 'cost minimization!

16. Distinguish between Economic cost and Social cost.

17. State the significant recent development in cost theory.

18. 4 x 5 = 20
19. If total cost = 10+ Q3, find out AC, AVC, TFC, AFC when Q = 5.

20. Discuss the short run cost curves with suitable diagram.

21. If the total cost = 100 + Q3, find out AVC, AC, TFC, AFC and TVC when Q = 10.

22. Bring out the relationship among TR, AR, MR curves and elasticity of demand.