Cost and Revenue Analysis Three Marks Questions

11th Standard

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Economics

Time : 00:45:00 Hrs
Total Marks : 30
    10 x 3 = 30
  1. Distinguish between fixed cost and variable cost.

  2. State the differences between money cost and real cost.

  3. Distinguish between explicit cost and implicit cost.

  4. Define opportunity cost and provide an example.

  5. State the relationship between AC and MC.

  6. Write a short note on Marginal Revenue.

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

  8. Define Private cost and Social cost.

  9. Define Accounting cost.

  10. Bring out the distinction between short run and long run.

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