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1.When Average Product Curve coincides with Marginal Product Curve, Average Product Curve is:
A. Constant and maximum
B. Constant and minimum
C. Increasing at a constant rate
D. Increasing at a diminishing rate
2.A firm increases its output 20 to 40 units. As a result its Total Cost rises from Rs.2000 to Rs.2400. What could be the marginal cost of production at 40th unit?
3.As firm increases the output, the difference between Average Cost and Average Variable cost diminishes due to:
A. As output increases Average cost diminishes.
B. As output increases Average Variable cost diminishes
C. As output increases Average Fixed cost diminishes
D. All the above
4.Using suitable diagram distinguish between Total Cost and Total Variable cost. 3
5.Consider the following production schedule of a firm. Identify and explain the three stages of Law of Variable Proportion using the values derived from the table.
6.Give one important property of Arithmetic Mean.
7.‘Captions’ in a table represent:
A. Title of the table
B. Title given to columns in the table
C. Title given to the rows in the table.
D. Title for sources of data given in the table.
8.How a Multiple Bar Diagram is is different from a Histogram.
9.Construct a Multiple Bar Diagram for the following data related to construction of a house in New Delhi.
10. Calculate median for the following distribution. Locate the value on a graph.
SET - C
1. A. Constant and Maximum
2. Rs. 20
3. C. As out increases Average Fixed Cost diminishes
4 Total cost is the sum of cost of fixed inputs and variable inputs. TVC is cost incurred on variable inputs only TVC is zero at zero unit of output. TC is equal to TFC at zero unit of output
Stage I: Up to 3rd unit of input, MP increases. TP increases at an increasing rate. Firm is in the stage of increasing returns
Stage II: From 4th unit to 8th unit of input, MP decreases but positive. TP increases at a diminishing rate. At 8th unit of input MP is zero TP reaches maximum and constant. Firm is in the stage of diminishing returns.
Stage III: Beyond 8th unit, MP is negative. TP falls. Firm is in the stage of negative returns.
6 The sum of deviation taken between the values and its mean will be zero
7 B. Title given to columns in the table
8 Multiple bar diagram consist of different sets of rectangles of equal width. Histogram is a set of rectangles of different width according to width of the classes (any one difference)
9 Multiple bar diagramDiagram
M = (N/2) th item; 100/2 = 50th item
M = L + (N/2-CF/f) x h
= 16 + (50-36)/24 x 4
= 16 = 14/24 x 4
= 14 + 2.3 =16.3
Ogive and location
On graph 16.5 approximate
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