{"id":10788,"date":"2021-12-26T11:39:53","date_gmt":"2021-12-26T06:09:53","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=10788"},"modified":"2024-12-25T14:56:51","modified_gmt":"2024-12-25T09:26:51","slug":"12th-economics-chapter-4-exercise","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/","title":{"rendered":"12th Economics Chapter 4 Exercise (Supply Analysis) Maharashtra Board &#8211; Free Solution"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f15ccc555e6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f15ccc555e6\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#12th_Economics_Chapter_4_Exercise\" >12th Economics Chapter 4 Exercise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Chapter_4_%E2%80%93_Supply_Analysis\" >Chapter 4 &#8211; Supply Analysis<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Q_1_Complete_the_following_statements\" >Q. 1. Complete the following statements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Q_2_Complete_the_correlation\" >Q. 2. Complete the correlation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Q_3_Give_economic_terms\" >Q. 3. Give economic terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Q4_Distinguish_between\" >Q.4. Distinguish between<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Q5_Observe_the_following_table_and_answer_the_questions\" >Q.5. Observe the following table and answer the questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Q6_Answer_the_following_questions\" >Q.6. Answer the following questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Q6_Answer_the_following_questions-2\" >Q.6. Answer the following questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Extra_Questions\" >Extra Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Solution_of_all_Chapters_of_Economics\" >Solution of all Chapters of Economics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/#Check_out_other_posts_related_to_the_12th_Commerce\" >Check out other posts related to the 12th Commerce<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"12th_Economics_Chapter_4_Exercise\"><\/span>12th Economics Chapter 4 Exercise<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/12\/12th-Economics-Chapter-4-Exercise-1024x576.jpg\" alt=\"12th Economics Chapter 4 Exercise \nSupply Analysis (Maharashtra Board)\" class=\"wp-image-13227 lazyload\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;width:712px;height:auto\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/12\/12th-Economics-Chapter-4-Exercise-1024x576.jpg 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/12\/12th-Economics-Chapter-4-Exercise-300x169.jpg 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/12\/12th-Economics-Chapter-4-Exercise-768x432.jpg 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/12\/12th-Economics-Chapter-4-Exercise-1536x864.jpg 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/12\/12th-Economics-Chapter-4-Exercise-640x360.jpg 640w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/12\/12th-Economics-Chapter-4-Exercise.jpg 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><figcaption class=\"wp-element-caption\">12th Economics Chapter 4 Exercise<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center has-black-color has-vivid-green-cyan-background-color has-text-color has-background has-medium-font-size\"><span class=\"ez-toc-section\" id=\"Chapter_4_%E2%80%93_Supply_Analysis\"><\/span><strong>Chapter 4 &#8211; <\/strong>Supply Analysis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_1_Complete_the_following_statements\"><\/span>Q. 1. Complete the following statements<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>1) When supply curve is upward sloping, it\u2019s slope is _____.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">a) positive<br><\/mark><\/strong>b) negative<br>c) first positive then negative<br>d) zero<\/p>\n\n\n\n<p><strong>2) An upward movement along the same supply curve shows _____.<br><\/strong>a) contraction of supply<br>b) decrease in supply<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">c) expansion of supply<br><\/mark><\/strong>d) increase in supply<\/p>\n\n\n\n<p><strong>3) A rightward shift in supply curve shows _____.<br><\/strong>a) contraction of supply<br>b) decrease in supply<br>c) expansion of supply<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">d) increase in supply<\/mark><\/strong><\/p>\n\n\n\n<p><strong>4) Other factors remaining constant, when less quantity is supplied only due to a fall in price, it shows _____.<br><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">a) contraction of supply<br><\/mark><\/strong>b) decrease in supply<br>c) expansion of supply<br>d) increase in supply<\/p>\n\n\n\n<p><strong>5) Net addition made to the total revenue by selling an extra unit of a commodity is _____.<br><\/strong>a) total Revenue<br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">b)marginal Revenue<br><\/mark><\/strong>c)average Revenue<br>d)marginal Cost<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_2_Complete_the_correlation\"><\/span>Q. 2. Complete the correlation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Expansion of supply : Price rises : : Contraction of supply : <strong><span style=\"text-decoration: underline;\">Price falls<\/span><\/strong><\/p>\n\n\n\n<p>2) Total revenue : <strong><span style=\"text-decoration: underline;\">P X Q<\/span><\/strong> : : Average revenue : TR\/TQ<\/p>\n\n\n\n<p>3) Total cost : TFC + TVC : : Average cost : <strong><span style=\"text-decoration: underline;\">TC\/TQ<\/span><\/strong><\/p>\n\n\n\n<p>4) Demand curve : <strong><span style=\"text-decoration: underline;\">Downward <\/span><\/strong>: : Supply curve : Upward<\/p>\n\n\n\n<p>5) <strong><span style=\"text-decoration: underline;\">Price constant<\/span><\/strong> : Change in supply : : Other factors constant : Variation of Supply<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q_3_Give_economic_terms\"><\/span>Q. 3. Give economic terms <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1) Cost incurred on fixed factor.<br><strong>Answer:<\/strong> Fixed Cost<\/p>\n\n\n\n<p>2) Cost incurred per unit of output.<br><strong>Answer:<\/strong> Average Cost<\/p>\n\n\n\n<p>3) Net addition made to total cost of production.<br><strong>Answer:<\/strong> Marginal Cost<\/p>\n\n\n\n<p>4) Revenue per unit of output sold.<br><strong>Answer:<\/strong> Average Revenue<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" target=\"_blank\" rel=\"noreferrer noopener\">3A<\/a> &#8211; <strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\">3B<\/a> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">10<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q4_Distinguish_between\"><\/span>Q.4. Distinguish between <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">1) Stock and Supply.<\/span><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Points<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>Stock<\/strong><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong><strong>Supply<\/strong><\/strong><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1)Meaning<\/td><td class=\"has-text-align-center\" data-align=\"center\">Stock is the total quantity of commodities available for sale with a seller at a particular point of time.<\/td><td class=\"has-text-align-center\" data-align=\"center\">The word \u2018supply\u2019 implies the various quantities of a commodity offered for sale by producers during a given period of time at<br>a given price.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Interrelationship<\/td><td class=\"has-text-align-center\" data-align=\"center\">Normally, stock exceeds supply but in the case of perishable goods stock may be equal to supply.<\/td><td class=\"has-text-align-center\" data-align=\"center\">Supply and stock can be same, but supply cannot exceed stock. <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\"><b>2) <\/b>Expansion of Supply and Increase in Supply.<\/span><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Points<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>Expansion of Supply<\/strong><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>Increase in Supply<\/strong><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1)Meaning<\/td><td class=\"has-text-align-center\" data-align=\"center\">Expansion of supply refers to a rise in the quantity supplied due to a rise in the price of a commodity, other factors remaining constant.<\/td><td class=\"has-text-align-center\" data-align=\"center\">Increase in supply refers to rise in the supply of a given commodity<br>due to favourable changes in other factors, while price remains constant.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Curve movement<\/td><td class=\"has-text-align-center\" data-align=\"center\">Expansion in supply leads to an upward movement on the same supply curve due to a rise in price.<\/td><td class=\"has-text-align-center\" data-align=\"center\">The supply curve shifts to the right of the original supply<br>curve.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\"><b>3) <\/b>Contraction of Supply and Decrease in Supply.<\/span><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Points<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>Contraction of Supply<\/strong><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>Decrease in Supply<\/strong><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Meaning<\/td><td class=\"has-text-align-center\" data-align=\"center\">Contraction of supply refers to a fall in the quantity supplied, due to fall in the price of commodity,<br>other factors remaining constant.<\/td><td class=\"has-text-align-center\" data-align=\"center\">Decrease in supply refers to a fall in the supply of a given commodity due to unfavourable changes in other factors while price remains constant.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Curve movement<\/td><td class=\"has-text-align-center\" data-align=\"center\">In case of contraction of supply, there is a downward movement on the same supply curve.<\/td><td class=\"has-text-align-center\" data-align=\"center\">The supply curve shifts to the left of the original supply curve.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\"><b>4) <\/b>Average Revenue and Average Cost.<\/span><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Points<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>Average Revenue<\/strong><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong>Average Cost<\/strong><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Meaning<\/td><td class=\"has-text-align-center\" data-align=\"center\">Average revenue is the revenue per unit of output sold.<\/td><td class=\"has-text-align-center\" data-align=\"center\">Average cost refers to the cost of production per unit.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Formula<\/td><td class=\"has-text-align-center\" data-align=\"center\">AR = TR \/ TQ<br>AR = Average Revenue<br>TR= Total Revenue<br>TQ =Total Quantity<\/td><td class=\"has-text-align-center\" data-align=\"center\">AC = TC \/ TQ<br>AC = Average cost<br>TC = Total cost<br>TQ = Total quantity<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q5_Observe_the_following_table_and_answer_the_questions\"><\/span>Q.5. Observe the following table and answer the questions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">A) Supply schedule of chocolates<\/span><\/strong><\/p>\n\n\n\n<p><strong>1) Complete the supply schedule.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Price in Rs.<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Quantity supplied in units<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10<\/td><td class=\"has-text-align-center\" data-align=\"center\">200<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">15<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">250<\/span><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">20<\/td><td class=\"has-text-align-center\" data-align=\"center\">300<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">25<\/td><td class=\"has-text-align-center\" data-align=\"center\">350<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">30<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">400<\/span><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">35<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">450<\/span><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">40<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">500<\/span><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>2) Draw a diagram for the above supply schedule.<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>3) State the relationship between price and quantity supplied.<\/strong><\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-purple-color\">B) Observe the market supply schedule of potatoes and answer the following questions.<\/span><\/strong><\/p>\n\n\n\n<p><strong>1) Complete the quantity of potato supplied by the firms to the market in the below table.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Price in Rs<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Firm A<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Firm B<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Firm C<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Market supply(kg)<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">35<\/span><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">20<\/td><td class=\"has-text-align-center\" data-align=\"center\">45<\/td><td class=\"has-text-align-center\" data-align=\"center\">100<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2<\/td><td class=\"has-text-align-center\" data-align=\"center\">37<\/td><td class=\"has-text-align-center\" data-align=\"center\">30<\/td><td class=\"has-text-align-center\" data-align=\"center\">45<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">112<\/span><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3<\/td><td class=\"has-text-align-center\" data-align=\"center\">40<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">40<\/span><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">55<\/td><td class=\"has-text-align-center\" data-align=\"center\">135<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4<\/td><td class=\"has-text-align-center\" data-align=\"center\">44<\/td><td class=\"has-text-align-center\" data-align=\"center\">50<\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><span style=\"text-decoration: underline;\">60<\/span><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">154<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>2) Draw the market supply curve from the schedule and explain it.<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" target=\"_blank\" rel=\"noreferrer noopener\">3A<\/a> &#8211; <strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\">3B<\/a> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">10<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q6_Answer_the_following_questions\"><\/span>Q.6. Answer the following questions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>1) Explain the concept of total cost and total revenue.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong><\/p>\n\n\n\n<p><strong>1) Total Cost (TC):<\/strong><\/p>\n\n\n\n<p>Total cost is the total expenditure incurred by a firm on the factors of production required for producing goods and services. Total cost is the sum of total fixed cost and total variable cost at various levels of output.<\/p>\n\n\n\n<p>TC = TFC + TVC<br>TC = Total cost<br>TFC = Total Fixed Cost<br>TVC = Total Variable Cost<\/p>\n\n\n\n<p><strong>Total Fixed Cost (TFC):<\/strong> Total fixed costs are those expenses of production which are incurred on fixed factors such as land, machinery, etc.<\/p>\n\n\n\n<p><strong>Total Variable Cost (TVC):<\/strong> Total variable costs are those expenses of production that are incurred on variable factors such as labour, raw material, power, fuel etc.<\/p>\n\n\n\n<p><strong>1) Total Revenue (TR): <\/strong><\/p>\n\n\n\n<p>Total revenue is the total sales proceeds of a firm by selling a commodity at a given price. It is the total income of a firm. Total revenue is calculated as follows:<\/p>\n\n\n\n<p>Total revenue = Price \u00d7 Quantity<br>For example, if a firm sells 15 units of a commodity at <strong>\u20b9<\/strong> 200 per unit TR is calculated as <br>TR = P \u00d7 Q <br>= 200 \u00d7 15<br>= <strong>\u20b9<\/strong> 3000<\/p>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>2) Explain the determinants of supply.<\/strong><\/mark><\/p>\n\n\n\n<p><strong>Answer:<\/strong> <\/p>\n\n\n\n<p>The following are the determinants of Supply :<\/p>\n\n\n\n<p><strong>1) Price of commodity:<\/strong><\/p>\n\n\n\n<p>Price is an important factor influencing the supply of a commodity. More quantities are supplied at a higher price and less quantities are supplied at a lower price. Thus, there is a direct relationship between price and<br>quantity supplied.<\/p>\n\n\n\n<p><strong>2) State of technology:<\/strong><\/p>\n\n\n\n<p>Technological improvements reduce the cost of production which lead to an increase in production and supply.<\/p>\n\n\n\n<p><strong>3) Cost of Production:<\/strong><\/p>\n\n\n\n<p>If the factor price increases, the cost of production also increases, as a result, supply decreases.<\/p>\n\n\n\n<p><strong>4) Infrastructural facility:<\/strong><\/p>\n\n\n\n<p>Infrastructure in the form of transport, communication, power, etc. influences the production process as well as supply. Shortage of these facilities decreases the supply and vice versa.<\/p>\n\n\n\n<p><strong>5) Government policy:<\/strong><\/p>\n\n\n\n<p>Favourable Government policies may encourage supply and unfavourable government policies may discourage the supply. Government policies like taxation, subsidies, industrial policies, etc. may encourage or discourage production and supply, depending upon government policy measures.<\/p>\n\n\n\n<p><strong>6) Natural conditions:<\/strong><\/p>\n\n\n\n<p>The supply of agricultural products depends on the natural conditions. For example, a good monsoon<br>and favourable climatic condition will produce a good harvest, so the supply of agricultural products will increase and unfavourable climatic conditions will lead to a decrease in supply.<\/p>\n\n\n\n<p><strong>7) Future expectations about price:<\/strong><\/p>\n\n\n\n<p>If the prices are expected to rise in the near future, the producer may withhold the stock. This will reduce the supply and vice versa<\/p>\n\n\n\n<p><strong>8) Other factors:<\/strong><\/p>\n\n\n\n<p>It includes,<br>\u2022 nature of the market,<br>\u2022 relative prices of other goods,<br>\u2022 export and imports,<br>\u2022 industrial relations,<br>\u2022 availability of factors of production etc.<br>If all factors are favourable, supply of a commodity will be more and vice versa.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Q6_Answer_the_following_questions-2\"><\/span>Q.6. Answer the following questions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><strong>3) State and explain Law of Supply with exceptions.<\/strong><\/mark><\/p>\n\n\n\n<p><strong><strong>Answer: <\/strong><\/strong><br><strong>Law of Supply<\/strong><\/p>\n\n\n\n<p><strong>Introduction :<br><\/strong>The law of supply is also a fundamental principle of economic theory like law of demand. Prof. Alfred Marshall introduced it in his book, \u2018Principles of Economics\u2019 which was published in 1890. The law explains<br>the functional relationship between price and quantity supplied.<\/p>\n\n\n\n<p><strong>Statement of the Law :<br><\/strong>\u201cOther things being constant, higher the price of a commodity, more is the quantity supplied and lower the price of a commodity less is the quantity supplied\u201d<\/p>\n\n\n\n<p>In simple words, \u201cother factors remaining constant, a rise in price results in a rise in the quantity supplied and vice-versa. Thus, there is a direct relationship between price and quantity supplied.<br>Symbolically,<br>Sx = f (Px)<br>S = Supply<br>x = Commodity<br>f = Function<br>P = Price of commodity<\/p>\n\n\n\n<p>The law of supply is explained with the help of the following schedule and diagram<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">Price of commodity <strong><em>x<\/em><\/strong><br>(in \u20b9)<\/td><td class=\"has-text-align-center\" data-align=\"center\">Supply of commodity <strong><em>x<\/em><\/strong><br>(in kgs.)<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10<\/td><td class=\"has-text-align-center\" data-align=\"center\">100<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">20<\/td><td class=\"has-text-align-center\" data-align=\"center\">200<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">30<\/td><td class=\"has-text-align-center\" data-align=\"center\">300<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">40<\/td><td class=\"has-text-align-center\" data-align=\"center\">400<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">50<\/td><td class=\"has-text-align-center\" data-align=\"center\">500<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The above table explains the direct relationship between price and quantity of commodity supplied. When price rises from \u20b910 to \u20b920, \u20b930, \u20b940 and \u20b950, the supply also rises from 100 to 200, 300, 400 and 500 units respectively.<\/p>\n\n\n\n<p>It means, when price rises supply also rises and when price falls supply also falls. Thus, there is direct relationship between price and quantity supplied which is shown in the following figure:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"270\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/07\/Supply-Curve-300x270.webp\" alt=\"Supply Curve\" class=\"wp-image-32612 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/07\/Supply-Curve-300x270.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2024\/07\/Supply-Curve.webp 632w\" data-sizes=\"(max-width: 300px) 100vw, 300px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/270;\" \/><\/figure>\n<\/div>\n\n\n<p>In the above figure, the X-axis represents quantity supplied and Y axis represents the price of the commodity. Supply curve &#8216;SS&#8217; slopes upwards from left to right which has a positive slope. It indicates a direct relationship between price and quantity supplied.<\/p>\n\n\n\n<p><strong>Exceptions to the Law of Supply :<\/strong><\/p>\n\n\n\n<p>Following are the exceptions to the law of supply:<\/p>\n\n\n\n<p><strong>1) Supply of labour:<\/strong><\/p>\n\n\n\n<p>Labour supply is the total number of hours workers work at a given wage rate. It is represented graphically by a supply curve. In case of labour, as the wage rate rises the supply of labour (hours of work) would increase. So supply curve slopes upward. Supply of labour (hours of work) falls with a further rise in wage rate and supply curve of labour bends backward. This is because the worker would prefer leisure to work after receiving higher wages. Thus, after a certain point when wage rate rises the supply of labour tends to fall.<\/p>\n\n\n\n<p><strong>2) Agricultural goods:<\/strong><\/p>\n\n\n\n<p>The law of supply does not apply to agricultural goods as they are produced in a specific season and their<br>production depends on weather conditions. Due to unfavourable changes in weather, if agricultural production is low, their supply cannot be increased even at a higher price.<\/p>\n\n\n\n<p><strong>3) Urgent need for cash:<\/strong><\/p>\n\n\n\n<p>If the seller is in urgent need for hard cash, he may sell his product at which may even be below the market price.<\/p>\n\n\n\n<p><strong>4) Perishable goods:<\/strong><\/p>\n\n\n\n<p>In the case of perishable goods, the supplier would offer to sell more quantities at lower prices to avoid losses. For example, vegetables, eggs etc.<\/p>\n\n\n\n<p><strong>5) Rare goods:<\/strong><\/p>\n\n\n\n<p>The supply of rare goods cannot be increased or decreased according to its demand. Even if the price rises, supply remains unchanged\u2014for example, rare paintings, old coins, antique goods, etc.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" target=\"_blank\" rel=\"noreferrer noopener\">3A<\/a> &#8211; <strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\">3B<\/a> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">10<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-cyan-bluish-gray-background-color has-background\"><span class=\"ez-toc-section\" id=\"Extra_Questions\"><\/span>Extra Questions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-2-color\">(1) Total revenue and marginal revenue.<\/mark><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong><strong>Total revenue<\/strong><\/strong><\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><strong><strong>Marginal revenue.<\/strong><\/strong><\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Total revenue is the total sales proceeds of a firm by selling a commodity at a given price.<\/td><td class=\"has-text-align-center\" data-align=\"center\">Marginal revenue is the net addition made to total revenue by selling an extra unit of the commodity.<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Total revenue = Price \u00d7 Quantity<\/td><td class=\"has-text-align-center\" data-align=\"center\">MRn = TRn \u2013 TRn-1<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solution of other subjects<\/a><br><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-textbook-solutions\/\">Solution of all Chapters of Economics<br><\/a> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">1<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\">2<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" target=\"_blank\" rel=\"noreferrer noopener\">3A<\/a> &#8211; <strong><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\">3B<\/a> &#8211;<\/strong> <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" target=\"_blank\" rel=\"noreferrer noopener\">4<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">5<\/a><\/strong> <strong>&#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">6<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">7<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">8<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">9<\/a> &#8211; <a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">10<\/a><\/strong><\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Solution_of_all_Chapters_of_Economics\"><\/span>Solution of all Chapters of Economics<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Chapter Name <\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Solution Link<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1) Introduction to Micro and Macro Economics<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-economics-chapter-1\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2) Utility Analysis<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-2\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3A) Demand Analysis<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3a\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3B) Elasticity of Demand<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-3b\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4) Supply Analysis<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-4-exercise\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5) Forms of Market<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-5-solutions\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">6) Index Numbers<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-6-solutions\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">7) National Income<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-7-solutions\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">8) Public Finance in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-8-solutions\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">9) Money Market and Capital Market in India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-9-solutions\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10) Foreign Trade of India<\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-economics-chapter-10-solutions\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><span class=\"ez-toc-section\" id=\"Check_out_other_posts_related_to_the_12th_Commerce\"><\/span>Check out other posts related to the 12th Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Textbook Solutions of 12th Commerce (All Subjects)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-notes\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong> Free pdf of 12th Commerce Textbooks <\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/ebalbharti-12th-books-pdf\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/ebalbharti-12th-books-pdf\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>12th Commerce IT MCQ Preparation (Online Test)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-it-online-exam\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/online-mcq-test-of-it-for-class-12-commerce\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>12th Commerce Paper Pattern and Chapter Wise Marks Distribution<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/new-paper-pattern-of-12th-commerce\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/new-paper-pattern-of-12th-commerce\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Sample Paper of 12th Commerce for Practice<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/sample-question-paper-for-12th-commerce\/\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/sample-question-paper-for-12th-commerce\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Solved Sample papers of 12th Commerce to improve Paper Presentation<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-navneet-practice-papers-pdf\/\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/scholarsclasses.com\/blog\/12th-commerce-navneet-practice-papers-pdf\/\" rel=\"noreferrer noopener\">Click Here<\/a><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Old Question Papers of 12th Commerce with solution (All Subjects)<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/scholarsclasses.com\/blog\/hsc-previous-year-question-paper\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/hsc-previous-year-question-paper\/\">Click Here<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":13227,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[4257],"class_list":["post-10788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hsc-maharashtra-board","tag-12th-economics-chapter-4-exercise"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/10788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=10788"}],"version-history":[{"count":30,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/10788\/revisions"}],"predecessor-version":[{"id":35813,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/10788\/revisions\/35813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/13227"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=10788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=10788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=10788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}