Page 54 - VIRANSH COACHING CLASSES

quantity is supplied only due to a fall in price, it Q. 5. Observe the following table and answer the
shows ................ questions :
a) contraction of supply A) Supply schedule of chocolates
b) decrease in supply Price in ` Quantity supplied in units

c) expansion of supply 10 200
d) increase in supply 15
20 300
5) Net addition made to the total revenue by selling
25 350
an extra unit of a commodity is ..................
30
a) total Revenue 35
b) marginal Revenue 40
c) average Revenue 1) Complete the above supply schedule.
d) marginal Cost
2) Draw a diagram for the above supply schedule.
Q. 2. Complete the Correlation : 3) State the relationship between price and
1) Expansion of supply : Price rises :: Contraction quantity supplied.
of supply :
B) Observe the market supply schedule of potatoes
2) Total revenue : :: Average revenue : and answer the following questions.
TR/TQ
Price Firms Market
3) Total cost : TFC + TVC :: Average cost : in ` “A” “B” “C” supply
(kg)
4) Demand curve : :: Supply curve : 1 20 45 100
2 37 30 45
Upward
3 40 55 155
5) : Change in supply :: Other factors 4 44 50 154
constant : Variation of supply
1) Complete the quantity of potato supplied by the
Q. 3. Give economic terms : firms to the market in the above table.
1) Cost incurred on fixed factor. 2) Draw the market supply curve from the schedule
2) Cost incurred per unit of output. and explain it.
3) Net addition made to total cost of production.
Q. 6. Answer the following questions :
4) Revenue per unit of output sold.
1) Explain the concept of total cost and total
Q. 4. Distinguish between : revenue.
1) Stock and Supply.
2) Explain determinants of supply.
2) Expansion of Supply and Increase in Supply.
Q. 7. Answer in detail :
3) Contraction of Supply and Decrease in Supply.
4) Average Revenue and Average Cost. 1) State and explain law of supply with exceptions.
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