Cost refers to _____.

(a)

Price 

(b)

value

(c)

fixed cost

(d)

cost of production

Money cost is also known as _____ cost.

(a)

explicit

(b)

implicit

(c)

social

(d)

real

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

(a)

fixed

(b)

variable

(c)

real

(d)

social

Find total cost where TFC = 200 and TVC = 150

(a)

300

(b)

350

(c)

200

(d)

150

Find total fixed cost where TC = 500 and TVC= 100.

(a)

100

(b)

200

(c)

300

(d)

400

Explicit Cost - Define.

What is meant by sunk cost?

What is Economic cost?

Write a short note on floating cost.

What is prime cost?

State the relationship between AC and MC.

Write a short note on Marginal Revenue.

What is social cost?

Explain Average Variable cost with the help of future.

Explain Average cost with the help of a diagram.

If total cost = 10+ Q³, find out AC, AVC, TFC, AFC when Q = 5.

Bring out the relationship between AR and MR curves under various price conditions.

Explain the Total Revenue with the help of Diagram.

If the total cost = 100 + Q³, find out AVC, AC, TFC, AFC and TVC when Q = 10.