Page 1 - HA-COST

HOME ASSIGNMENT

CLASS-XI

ECONOMICS(MICROECONOMICS)

Chapter-6-Cost

Question (Very short answer type questions-1 mark) Marks
No
1. Normal profit earned by a firm are included in: 1
a. Implicit cost
b. Explicit cost

c. Fixed cost
d. Variable cost

2. Suppose investment in fixed assets is Rs.2000/- , Annual 1
depreciation is Rs 100/- Imputed rent of the building is Rs.
1500/-, estimated annual management service by the owner is
Rs. 240/-. The Implicit cost is ___________.
a. 2240

b. 1600
c. 1740/-
d. 3500/
3. The cost curve, which is inversely S-shaped is 1
a. Average Cost Curve
b. Total Fixed Cost Curve
c. Total Variable Cost Curve
d. Marginal Cost curve

4. State whether True or False 1
“Both TC & TVC start from the same point”
5. If the TC and AFC is 78 and 60 respectively, for 1 unit of output. What 1

will be the AVC for 1 unit of output?

(a) 18
(b) 60
(c) 20

(d) None of the above

6. State whether True or False 1
“AFC curve is a rectangular hyperbola.”