Class test 11 economics November

Questions 1 Define production function. How is it represented symbolically?      (2)

Question 2. Identify the different phases of the law of variable proportions from the given schedule. Give reasons for your answer.                      (6)

Variable Inputs (Units)	Total Physical Product (Units)
1	4
2	9
3	13
4	15
5	12

Question 3 Complete the following table. Show the calculations clearly.              (3)

Units of labour	Average product (Units)	Marginal product (Units)
1	8	–
2	10	–
3	–	10
4	9	–
5	–	4
6	7	–

Question 4 What are the total fixed cost, total variable cost and total cost of a firm? How are they related?               (4)

Question 5 A firm is producing 40 units. At this level of output, ATC and AVC are respectively equal to ₹50 and ₹47. Find out the total fixed cost of the firm.      (3)

Question 6  Read the following statement given below and choose the correct alternative.  (1)

Statement 1- AC and AVC curves can never intersect each other.

Statement 2- AFC can never be zero.

(a) Both are correct

(b) Both are incorrect

(c) Statement 1 is correct and statement 2 is incorrect

(d) Statement 1 is incorrect and statement 2 is correct

Question 7 Read the following statement given below and choose the correct alternative.  (1)

Assertion- AFC can never touch the X-Axis.

Reason- TFC can never be zero

(a) Both Assertion and Reason are true. The reason is the correct explanation of the assertion

(b) Both Assertion and reason are not true. The reason is not the correct explanation of assertion.

(c) Assertion is true but the reason is not.

(d) Reason is true but the assertion is not