NCERT Solutions for Class 12 Micro Economics Chapter 8 Revenue NCERT TEXTBOOK QUESTIONS SOLVED Question 1. How are the total revenue of a firm, market price, and the quantity sold by the firm related to each other?[1 Mark] Answer: Total Revenue = Market Price x Quantity sold Question 2. Compute the total revenue, marginal revenue and…
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NCERT Solutions for Class 12 Micro Economics Chapter -7 Supply NCERT TEXTBOOK QUESTIONS SOLVED Question 1. Consider a market with two firms. The following table shows the supply schedules of two firms: the SS1 column gives supply schedule of firm 1 and SS2 column gives supply schedule of firm 2. Compute the market supply schedule.…
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NCERT Solutions for Class 12 Micro Economics Chapter 6 Cost NCERT TEXTBOOK QUESTIONS SOLVED Question 1. Briefly explain the concept of the cost function.[1 Mark] Answer: Cost function shows functional relationship between output and cost of production. It gives the least cost combination of inputs corresponding to different levels of output. Cost function is given as:…
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NCERT Solutions for Class 12 Micro Economics Chapter-5 Production NCERT TEXTBOOK QUESTIONS SOLVED Question 1. Explain the concept of a production function. [CBSE 2004C, 07, 09C; AI 05, 08, 11] [1 Mark] Answer: The relationship between physical input and physical output of a firm is generally referred to as production function. The general form of production…
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NCERT Solutions for Class 12 Micro Economics Chapter-4 Elasticity of Demand NCERT TEXTBOOK QUESTIONS SOLVED Question 1. Explain price elasticity of demand. Answer: The degree of responsiveness of quantity demanded to changes in price of commodity is known as price elasticity of demand. Question 2. Consider the demand for a good. At price Rs 4, the…
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NCERT Solutions for Class 12 Micro Economics Chapter – 3 Demand NCERT TEXTBOOK QUESTIONS SOLVED Question 1. Suppose there are two consumers in the market for a good and their demand functions are as follows: for any price than less 20, and at any price greater than or equal to 20. for any price less…
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NCERT Solutions for Class 12 Micro Economics Chapter-2 Consumer Equilibrium NCERT TEXTBOOK QUESTIONS SOLVED Question 1. What do you mean by the budget set of a consumer? Or Define Budget Set. [CBSE 2011, 13] [1 Mark] Answer: Budget set is the collection of all bundles of goods that a consumer can buy with his income at…
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NCERT Solutions for Class 12 Micro Economics Chapter-1 Introduction to Economics NCERT TEXTBOOK QUESTIONS SOLVED Question 1. Discuss the central problems of an economy. [4-6 Marks] Answer: The three central problems of an economy are: What to produce? [CBSE 2004C, 05, 06, 08, 08C, 09, 10; AI 2006, 10] (a) What to produce refers to a…
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NCERT Solutions for Class 12 Micro Economics Detailed, Step-by-Step NCERT Solutions for Class 12 Micro Economics solved by Expert Teachers as per NCERT (CBSE) Book guidelines. Download Now. NCERT Solutions for Class 12 Micro Economics Here is the list of chapters for Class 12 Micro Economics NCERT Textbook. Chapter 1 Introduction to Economics Chapter 2…
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CBSE Class 9 English Grammar – Sentence Reordering and Sentence Transformation I. SENTENCE REORDERING Look at the words and phrases given below. Rearrange them to form meaningful sentences. (a) respect/said that/demanded/it/but/is/given/that/is not (b) if/something/then/in return for/should be/it is so/it (c) self-respect/come out of/something/has/our/self/that/and/is/that (a) Oliver Twist/workhouse/in/was/born/a (b) knew/father/nobody/who/was/his (c) died/mother/his birth/his/soon/after (a) pillars/there/human life/man/of/woman/and/are/two…
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