I.Com Part 1 Principles of Economics Chapter 8 Resource Pricing Short Question Preparation


11th Class Principles of Economics
Chapter 8 Resource Pricing Preparation

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11th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 8 "ICOM Part 1 Economics English Medium Chapter 8 Short Questions Preparation "

Try The Short Questions For ICOM Part 1 Economics English Medium Chapter 8 Short Questions Preparation

  • Total Questions10

  • Available Sets2

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Principles of Economics ( English Medium) - ICOM Part 1 Economics English Medium Chapter 8 Short Questions Preparation

Question # 1

What is the difference between short-run average cost curve (SAC) and long-run average cost curve3 LAC ?

  • Ans 1: Short run average cost curve is u-shaped while long-run average cost curve is flatter shaped.
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Prepare Complete Set Wise Questions For Chapter 8 "ICOM Part 1 Economics English Medium Chapter 8 Short Questions Preparation "

ICOM Part 1 Economics English Medium Chapter 8 Short Questions Preparation - Set 1

Question # 1

What is the difference between short-run average cost curve (SAC) and long-run average cost curve3 LAC ?

  • Ans 1: Short run average cost curve is u-shaped while long-run average cost curve is flatter shaped.
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ICOM Part 1 Economics English Medium Chapter 8 Short Questions Preparation - Set 2

Question # 1

Define average total cost (ATC) / average cost (AC).

  • Ans 1: If we divide total cost (TC) by unit of output, we get ATC.
    It is the cost per unit of output. Average cost can be calculated as:
    AC = TC/Q OR ATC = AFC + AVC
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11th Class Principles of Economics Chapter 8 Preparation

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