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(b) Minimizing losses in the short run

Price discrimination. Others are features of perfect competition.

a. (2). net of cost 

b. (1). at minimum point 

c. (1). price taker 

d.  (2). positive

(a) (1) MC must be equal to MR 

2. MC must cut MR from below 

3. Slope of MC must be greater than slope of MR.

(b)

(c) Since MC = MR = 10 at 6th unit of output, the profit maximising level of output is 6 units.

1. Total revenue curve 

2. Average/Marginal revenue curve

1. Price maker. Others are features of perfect competition. 

2. Product differentiation. Others are features of perfect competition. 

3. MR = AFC. Others are conditions for firm’s equilibrium under perfect competition.

(d) AFC = AVC

a. 5 - MC=MR, & MC cuts MR from below.

b. 3 - perfect competition

(a) The point on the supply curve at which a rm earns normal profit is called the break even point. The point of minimum average cost at which the supply curve cuts the LRAC curve is therefore the break even point of a firm. 

(b) In the short run the rm continues to produce as long as the price remains greater than or equal to the minimum of AVC. Therefore, along the supply curve as we move down, the last price output combination at which the firm produces positive output is the point of minimum AVC where the SMC curve cuts the AVC curve. Below this, there will be no production. This point is called the short run shutdown point of the firm. In the long run, the shut down point is the minimum of LRAC curve.

Yes. 

A firm maximizes profit when the following three conditions are satisfied.

1. The market price, p, is equal to the marginal cost. 

2. The marginal cost is nondecreasing. 

3. In the short run, the market price must be greater than or equal to the average variable cost. In the long run, the market price must be grater than or equal to the average cost.

Yes, I agree.

Features of perfect completion are pointed out below. 

1. Large number of buyers and sellers 

2. Homogeneous product 

3. Freedom of entry and exit 

4. Free movement of product and factors of production. 

5. Profit motive. 

6. Perfect knowledge of market conditions 

7. Absence of transport cost

Yes, I do agree to the statement that a firm cannot make supernormal profit in the long run under perfect competition. This is because freedom of entry will prevent supernormal profit in the long run.

Cost functions are also known production function.

Explicit cost plus implicit cost denote economic cost.

Correct Answer is: (c) 225

(b) total revenue

Yes, I agree to the statement that in the real world perfect competition does not exist. 

This is because, it is rare to nd the features of perfect competition especially the features like perfect knowledge, perfect mobility of factors and product, etc. What we really nd in the world is monopolistic competition which is a mix of perfect competition and monopoly

In the long run, a firm will produce output only when its price is at least equal to the average cost of production. Therefore, average cost curve represents the supply curve of the rm.

Long-run average cost curve is also called a Planning curve.

Money cost is also known as Explicit cost.

Wage is an example of Variable cost of the production.

Shut down point refers to a situation where average revenue is equal to average variable cost. If the price fails to cover even average variable cost, firm will stop its production.

A firm under perfect competition in the short run will start supplying only if the price is equal to or greater than the short run average variable cost. Therefore, the rising part of the short run marginal cost which begins with the minimum SAVC is the supply curve of the firm in the short run

27500000 = 2.75 × 10⁷

= (27500000/10000000) × 10000000

= 2.75 × 10⁷

88880000000 = 8.888 × 10¹⁰

= (88880000000/10000000000) × 10000000000

= 8.888 × 10¹⁰

The cost incurred by producing one more unit of output is Marginal cost.

As the number of firms changes the market supply curve shifts. When the number of firms increases the market supply curve shifts to the right. On the other hand, if the number of firms decreases, the market supply curve shifts to the left.

(-1/4)³ × (-1/4)⁸ = (-1/4)¹¹

We know that,

For any non-zero integers ‘a’ and ‘b’ and whole numbers m and n,

a^m × aⁿ = a^m+n

Let us assume missing power be y,

Then, (-1/4)³ × (-1/4)^y = (-1/4)¹¹

(-1/4)^y = (-1/4)¹¹/(-1/4)³

(-1/4)^y = (-1/4)^{11 – 3}

(-1/4)^y = (-1/4)⁸

[(7/11)³]⁴ = (7/11)¹²

For any non-zero integers ‘a’ and ‘b’ and whole numbers m and n,

(a^m)ⁿ = a^mn

[(7/11)³]⁴ = (7/11)^{(3 × 4)}

= (7/11)¹²

In the given example, P = 10 Q = 4 P1 = 30 es = 1.25 

ΔP = 30-10 = 20 

Applying these values in the formula, we get,

e_s =\(\frac{\Delta Q}{\Delta P} \times \frac{P}{Q}\)

e_s = \(\frac{\Delta Q}{\Delta P} \times \frac{P}{Q}\)

1.25 = \(\frac{\Delta Q}{\Delta 20} \times \frac{10}{4} = \frac{\Delta Q}{8}\)

\(\Delta Q\) = 1.25 \(\times\) 8 = 10

(1) The output level that firms in the market produce in aggregate, corresponding to different values of market prices. 

(2) 

(3) Draw a market supply curve that slopes upwards corresponding to the above values.

(11/15)⁴ × (11/15)⁵ = (11/15)⁹

We know that,

For any non-zero integers ‘a’ and ‘b’ and whole numbers m and n,

a^m × aⁿ = a^m+n

Therefore, (11/15)⁴ × (11/15)⁵ = (11/15)⁹

When price remains constant, AR will be Equal to MR.

(c) Equal to AR

a⁶ × a⁵ × a⁰ = a¹¹

We know that,

For any non-zero integers ‘a’ and ‘b’ and whole numbers m and n,

a^m × aⁿ × a^o= a^m+n+o

a⁶ × a⁵ × a⁰ = a^{5 + 6 + 0}

= a¹¹

In meiosis, cell division the first division reduces the chromosomal number to half and is, therefore, called the reductional division. It produces two haploid cells from the parent diploid cell.

In somatic cells, mitosis-cell division takes place.

1. Chloroplast-Green leaves, green stems and other green parts. 

2. Chromoplast-Flower (petals) and fruits. 

3. Leucoplast-Storage parts; such as roots, seeds, tubers etc.

The function of ribosomes is to synthesise proteins in the cell. Both the bounded and free ribosomes are involved in this synthesis.

The answer is (B) Lysosome

The answer is (C) Chloroplast

Phloem is a complex tissue is made up of four types of elements: 

(i) Sieve tube, 

(ii) Companion cells, 

(iii) Phloem fibers (bast fibers), and 

(iv) Phloem parenchyma.

Epidermis is a protective layer of tissue in angiospermic plants. It provides protection to underlying tissues. Epidermis forms the outer covering of various plant organs, such as roots, stem, leaves and flowers and remains in direct contact with the environment. Any substance, whether solid, liquid or gas can enter into the plant or move outside, only after passing through this layer. Epidermis helps in absorption, secretion, excretion, gaseous exchange and transpiration. It helps in preventing the entry of pathogens.

(i) Skeletal muscle fibre 

(ii) Smooth muscle fibre.

The answer is (A) Mitochondria

On the basis of pigments, three types of plastids are present in plants. 

They are: 

(i) Leucoplasts (Colourless plastids) 

(ii) Chloroplasts (green plastids) 

(iii) Chromoplasts (Coloured plastids, other than green)

Similarities with striated muscles: 

Both are cylindrical in shape, highly vascular and have alternate dark and light bands. Similarities with smooth muscles: Both are small sized, uni-nucleated and involuntary.