Chp-4

Question 1

When supply curve is upward soaping its slope is

Answer 1

Positive

Question 2

And upward moment along the same supply curve shows

Answer 2

Expansion of supply

Question 3

A rightward shift in supply curve shows

Answer 3

Increase in supply

Question 4

Other factors remaining, constant when less quantity is supplied only due to fall in price it shows

Answer 4

Contraction of supply

Question 5

Net addition made to the total revenue by selling an extra unit of commodity is

Answer 5

Marginal revenue

Question 6

Expansion of supply-price rises: contraction of supply:____

Answer 6

Price falls

Question 7

Total revenue:______ :: average revenue: TR/TQ

Answer 7

P×Q

Question 8

Total cost: TFC+TVC:: average cost:_____

Answer 8

TQ

Question 9

Demand curve: downward:: supply curve:___

Answer 9

Upward

Question 10

_____: change in supply:: other factors constant: variation of supply

Answer 10

Price constant

Question 11

Cost incurred on fixed factor

Answer 11

Total fixed cost

Question 12

Cost incurred per unit of output

Answer 12

Average cost

Question 13

Net addition made to total cost of production

Answer 13

Marginal cost

Question 14

Revenue per unit of output

Answer 14

Average revenue