Download printable Economics Class 11 Worksheets in pdf format, CBSE Class 11 Economics Production And Cost Worksheet has been prepared as per the latest syllabus and exam pattern issued by CBSE, NCERT and KVS. Also download free pdf Economics Class 11 Assignments and practice them daily to get better marks in tests and exams for Grade 11. Free chapter wise worksheets with answers have been designed by Standard 11 teachers as per latest examination pattern
Production And Cost Class 11 Economics Worksheet Pdf
Class 11 Economics students should refer to the following printable worksheet in Pdf for Production And Cost in Grade 11. This test paper with questions and solutions for Standard 11 Economics will be very useful for tests and exams and help you to score better marks
Class 11 Economics Worksheet for Production And Cost
PRODUCTION AND COST
I. Answer in one sentence each
1. Define production function.
2. What is an isoquant?
3. What can you say about MP when total product is constant?
4. The area under MC at a given point of output is:
a. Total Cost b. Total Variable Cost c. Total Fixed Cost
d. Average Total Cost
5. What can you say about Short Run Average cost when MC intersects and equal to that?
II. Answer in around 60 words each
6. How does short run cost analysis differ from long run cost analysis?
7. What are the causes behind the law of diminishing returns to a factor?
8. Calculate TP and MP for the following
Units of output: 1 2 3 4 5 6
Marginal Product: 6 10 14 10 6 2
9. Why is Long run Average Cost ‘U’ shaped? 3
10. What is the shape of AFC? Why is it so?
III. Answer in around 75 words each
11. With the help of a diagram explain the relation between AVC,MC and SAC
12. Using suitable diagram distinguish between TVC and TFC
13. Can the TFC influence the MC? Explain.
14. Distinguish between Total Cost and Total Variable Cost
15. Complete the following table
Output Total Cost Average Variable Cost Marginal Cost
1 44 ---------- -----
2 ------ 15 -----
3 ------ ----------- 15
4 88 ----------- ------
Answer in around 100 words each
16. Using a suitable diagram explain the relationship between TP and MP in its three stages of law of variable proportion
17. Distinguish between Short Run Production function and Long run production function using numerical illustration.
18. Following information is given about a firm
Output 0 1 2 3 4 5 6
Total costs 500 600 680 740 840 1000 1260
i. Average variable cost of producing 5 units
ii. The average fixed cost of producing 4 units
iii. The least cost level of output
iv. Marginal cost when third unit is produced
v. Total variable cost of producing 6 units
vi. Average cost at 5th unit of output
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