Question

A part- Explain the relationship between TC ,TVC and TFC with the help of diagram. (4) B part- Explain the problem of ‘What to produce’ and ‘How To produce’.(4) C part- Find the missing value when the median is 28. Class Interval freq 0-10 5 10-20 8 20-30 x 30-40 16 40-50 6 (4Marks) D part- The average marks of 39 students of a class is 50. The marks obtained by 40th student are 39 more than the average marks of all the 40 students. Find the mean marks of 40 students.(4) E part- Draw the diagram showing change in equilibrium price and quantity when increase in demand is greater than increase in supply.(4) F part- Differentiate between Monopoly and Monopolistic competition.(4)


plz hєlp mє tσdαч íѕ mч prєвσαrd plz hєlp .nσ írrєvєlαnt αnѕwєrѕ plz ​

Answer 1

Since the TFC curve is horizontal, the difThe central problem of 'How to Produce' deals with which production technique to employ in the production of the decided goods and services. That is, whether to employ labour intensive technique or to employ capital intensive technique of production.

erence between the TC and TVC curve is the same at each level of output and equals TFC. This is explained as follows: TC – TVC = TFC. The TFC curve is parallel to the horizontal axis while the TVC curve is inverted-S shaped.