Class 12 Economics Cost and Cost Curves Notes and Important Questions
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Important Questions
Answer the following questions based on the given table
Output | TFC | TVC | TC | AC | MC |
|---|---|---|---|---|---|
0 | 60 | 0 | 60 | ||
1 | 60 | 10 | |||
2 | 60 | 18 | |||
3 | 60 | 21 | |||
4 | 60 | 32 | |||
5 | 60 | 50 | |||
6 | 60 | 84 | |||
7 | 60 | 130 | |||
8 | 60 | 190 |
Complete the given table.
Draw average and marginal cost curves from the completed table.
Answer the following questions based on the given table.
Output | TFC | TVC | TC | AC | MC |
|---|---|---|---|---|---|
0 | 100 | 0 | 100 | ||
1 | 100 | 10 | |||
2 | 100 | 18 | |||
3 | 100 | 23 | |||
4 | 100 | 32 | |||
5 | 100 | 50 | |||
6 | 100 | 80 | |||
7 | 100 | 124 | |||
8 | 100 | 180 |
Complete the table by computing total, average and marginal cost.
Draw average and marginal cost curves from the completed table.
If total cost of producing 7th and 8th unit of goods are Rs. 624 and Rs. 727 respectively, find marginal cost of producing 8th unit of goods.
Give the answer of following questions on the basis of given table.
Output | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
TC | 8 | 14 | 18 | 28 | 45 | 72 |
AC | 7 | 9 | ||||
MC | 10 | 27 |
Complete the above table.
Draw AC and MC curves from the completed table.
Describe the concept of Fixed Cost and Variable Cost with examples. Mention any three differences between Fixed and Variable Cost.
Answer the following questions based on the given table.
Output (Unit of output) | TFC (Rs.) | TVC (Rs.) | TC (Rs.) |
|---|---|---|---|
0 | 20 | - | - |
1 | - | 20 | - |
2 | - | - | 50 |
3 | - | 45 | - |
4 | - | - | 100 |
5 | - | 145 | - |
Complete the given table.
Draw total variable cost and total cost curves from the completed table.
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Past Question Analysis
Historical exam-pattern data from past NEB question papers — not a prediction of future questions.
2
Question Items
0
Total Marks
2
Papers Appeared In
| Year | Question Items | Marks |
|---|---|---|
| 2082 | 1 | — |
| 2080 | 1 | — |
Offered as one of multiple alternative ("OR") questions in 1 past paper — not counted above, since a different chapter's question could be chosen instead.
This page covers Cost and Cost Curves, chapter 3 of 14 in the Class 12 Economics syllabus set by the National Examination Board (NEB). 6 important questions for this chapter are available, each with a full solution.
For subjects like this one, examiners tend to reuse similar question patterns year to year — comparing this chapter's important questions against recent old NEB papers is one of the more efficient ways to revise.