CBSE Class 12 Economics Question Paper Solved 2019 Set E

CBSE Class 12 Economics Question Paper Solved 2019 Set E. Students can download the last year board exams question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations.

SECTION A

(MICROECONOMICS)

1. The Total Revenue earned by selling 20 units is Rs. 700. Marginal Revenue earned by selling 21st unit isRs.70 . The value of Total Revenue earned by selling total 21 units will be ____________. (Choose the correct alternative)

(a) Rs. 721 (b)Rs.630

(c) Rs. 770 (d) Rs. 720

2. In the given figure X₁Y₁ and X₂Y₂ are Production Possibility Curves in two different periods T₁ and T₂ respectively for Good X and Good Y. A₁ and A₂ represent actual outputs and P₁ and P₂ represent potential outputs respectively in the two time periods.

The change in actual output of Goods X and Y over the two periods would be represented by movement from _________ . (Fill up the blank)

(a) A₂ to P₂ (b) A₁ to P₂

(c) P₁ to A₂ (d) A₁ to A₂

OR

The Marginal Rate of Transformation (MRT) is constant. The Production Possibility Curve, so formed, would be __________________ to the origin. (Fill up the blank)

3. Under imperfect competition, Average Revenue (AR) remains _________ Marginal Revenue (MR). (Fill up the blank)

OR

‘‘For a firm to be in equilibrium, Marginal Revenue (MR) and Marginal Cost (MC) must be _________ and beyond that level of output Marginal Cost must be _________.’’ (Fill up the blank)

4. If the supply curve is a straight line parallel to the vertical axis (Y-axis), supply of the good is called as _________. (Fill up the blank)

(a) Unitary Elastic Supply

(b) Perfectly Elastic Supply

(c) Perfectly Inelastic Supply 

(d) Perfectly Elastic Demand 

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