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CBSE Guess > Papers > Important Questions > Class XII > 2014 > Economics > Economics - by Mr. S.R. Yadav



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Q.12. Complete the following table: 4

Price (Rs.) Output (Rs.) TR (Rs.) MR (Rs.)
  2   3
4 3 12  
  4   (-) 4

Q.13. The diagram shows AE is the demand curve of a commodity. On the basis of the diagram, state whether the following. Statements are true of false. Give reason for your answer. 4

  1. Demand at point 'B' is price inelastic.
  2. Demand at point 'C' is more price elastic than at point 'B'.
  3. Demand at point 'C' is price elastic.
  4. Price elasticity of demand at point 'C' is greater than price elasticity of demand at point 'D'

Q.14. Giving reason, state whether the following statement are true of false. 6

  1. When there are diminishing returns to a factor total product always decreases.
  2. When there are diminishing returns to a factor marginal and total product both always fall.
  3. Increase in total product always indicates that there are increasing returns to factor.

Q.15. what will be impact on market price and the quantity exchanged when:

  1. There is rightward shift in the demand curve.
  2. The demand curve is perfectly elastic and supply curve shifts
  3. Both the demand and supply curves decrease in the same proportion.


If demand curve shifts rightwards and supply curve shifts leftwards, the equilibrium price would certainly rise. But equilibrium quantity may increase, decrease of remain unchanged. Show with diagrams. 6


Output (units) TR (Rs.) TC (Rs.)
1 50 60
2 60 65
3 68 68
4 70 60
5 75 75
6 80 95


  1. Output levels showing loss.
  2. Output levels showing break-even point.
  3. Output levels showing producer's equilibrium. Why is he in equilibrium at this level of output? 6

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Submitted By : Mr. S.R. Yadav
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