11th Economics Chapter 4 Cost and Revenue Analysis Book Back

Samacheer Kalvi 11th Economics – Chapter 4: Cost and Revenue Analysis Book Back Answers

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11th Economics – Chapter 4: Cost and Revenue Analysis Book Back Answers

I. Choose the best answers:

1. Cost refers to ________

a. price
b. value
c. fixed cost
d. cost of production

2. Cost functions are also known as ___________ function.

a. production
b. investment
c. demand
d. consumption

3. Money cost is also known as ____________ cost.

a. explicit
b. implicit
c. social
d. real

4. Explicit cost plus implicit cost denote ___________ cost.

a. social
b. economic
c. money
d. fixed

5. Explicit costs are termed as __________.

a. out-of-pocket expenses
b. real cost
c. social cost
d. sunk cost

6. The costs of self–owned resources are termed as ________ cost.

a. real
b. explicit
c. money
d. implicit

7. The cost that remains constant at all levels of output is _______ cost.

a. fixed
b. variable
c. real
d. social

8. Identify the formula for estimating average variable cost.

a. TC/Q
b. TVC/Q
c. TFC/Q
d. TAC/Q

9. The cost incurred by producing one more unit of output is______cost.

a. variable
b. fixed
c. marginal
d. total

10. The cost that varies with the level of output is termed as _______ cost.

a. money
b. variable cost
c. total cost
d. fixed cost

11. Wage is an example for ________ cost of the production.

a. fixed
b. variable
c. marginal
d. opportunity

12. The cost per unit of output is denoted by _________ cost.

a. average
b. marginal
c. variable
d. total

13. Identify the formula for estimating average cost.

a. AVC/Q
b. TC/Q
c. TVC/Q
d. AFC/Q

14. Find total cost where TFC=I00 and TVC = 125.

a. 125
b. 175
c. 225
d. 325

15. Long-run average cost curve is also called as __________ curve.

a. demand
b. planning
c. production
d. sales

16. Revenue received from the sale of products is known as _______ revenue.

a. profit
b. total revenue
c. average
d. marginal

17. Revenue received from the sale of the additional unit is termed as ________ revenue.

a. profit
b. average
c. marginal
d. total

18. Marginal revenue is the addition made to the

a. total sales
b. total revenue
c. total production
d. total cost

19. When price remains constant, AR will be ________ MR.

a. equal to
b. greater than
c. less than
d. not related to

20. A bookseller sold 40 books with the price of Rs.10 each. The total revenue of the seller is Rs. ___________.

a. 100
b. 200
c. 300
d. 400

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12 Mar 2022