Question

units)
(in Rs
cost (in Rs)
variable cost
(in Rs)
0
200
0
1
100
2
180
3
80
490
32 Discuss briefly using a hypothetical schedule , the relation
between marginal utility and total utility,
33. Define fixed cost. Give an example. lain with reason the
behaviour of Average Fixed Cost as output is increased. (Use
schedule and diagram)
OR
Define Producer's Equilibrium. Discuss briefly, the conditions of
producer's equilibrium, assuming that the producer can sell
more units of the good by lowering the price.​

Answer 1

Answer:

previously u learnt that human wants are unlimited but the resources to satisfy these wants are limited which, gives rise to the problem of scarcity