Cost and Revenue Analysis Book Back Questions

11th Standard

    Reg.No. :
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Economics

Time : 00:45:00 Hrs
Total Marks : 30
    5 x 1 = 5
  1. Cost refers to _____.

    (a)

    Price 

    (b)

    value

    (c)

    fixed cost

    (d)

    cost of production

  2. Cost functions are derived from _____ function.

    (a)

    production

    (b)

    investment

    (c)

    demand

    (d)

    consumption

  3. Money cost is also known as _____ cost.

    (a)

    explicit

    (b)

    implicit

    (c)

    social

    (d)

    real

  4. Explicit cost plus implicit cost denote _____ cost.

    (a)

    social

    (b)

    economic

    (c)

    money

    (d)

    fixed

  5. Explicit costs are termed as

    (a)

    out of pocket expenses

    (b)

    real cost

    (c)

    social cost

    (d)

    sunk cost

  6. 3 x 2 = 6
  7. Define cost.

  8. What do you mean by fixed cost?

  9. Explicit Cost - Define.

  10. 3 x 3 = 9
  11. Distinguish between fixed cost and variable cost.

  12. Distinguish between explicit cost and implicit cost.

  13. State the relationship between AC and MC.

  14. 2 x 5 = 10
  15. If total cost = 10+ Q3, find out AC, AVC, TFC, AFC when Q = 5.

  16. Discuss the short run cost curves with suitable diagram?

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