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MDTMC PDF

This document is a test for Economics and Business Studies with a total of 26 marks. It includes multiple-choice questions on topics such as Total Physical Product (TPP), Marginal Physical Product (MPP), production functions, and median calculations. Additionally, it contains open-ended questions requiring explanations and calculations related to average costs, cost concepts, and frequency distributions.

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9 views2 pages

MDTMC PDF

This document is a test for Economics and Business Studies with a total of 26 marks. It includes multiple-choice questions on topics such as Total Physical Product (TPP), Marginal Physical Product (MPP), production functions, and median calculations. Additionally, it contains open-ended questions requiring explanations and calculations related to average costs, cost concepts, and frequency distributions.

Uploaded by

265manishjain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SAHAY INSTITUTE

Test
Mayank Dua |Economics & Business Studies

Name: _______________ Total Marks - 26M

Answer the following questions (1 Mark Each)


1. In the short run TPP changes with the change in which of the following factors

a) Economic cost

b) Fixed factors

c) All the factors

d) Variable factors

2. How is TPP derived from MPP?

a) Cumulative addition

b) Cumulative subtraction

c) Cumulative product

d) Cumulative division

3. The general shape of TPP in the short run is

a) Inverse U shaped

b) U shaped

c) Hyperbola

d) V- shaped

4. Production function shows technical relationship between physical inputs and output of a commodity

a) Technological relationship between inputs and cost

b) Economic relationship between inputs and output

c) Technological relationship between inputs and output

d) Technological relationship between inputs and price


5. Which is the correct example of a production function? (Consider Q = quantity of output, K = capital and L =
labor)

a) Q = K + L

b) Q = √ KL

c) Q = min (K, L)

d) All are correct

6. Find out the median.

S.No. 1 2 3 4 5 6 7 8 9
Marks Obtained 10 12 14 17 18 20 21 30 32

Answer the following questions (4 Mark Each)


1. Explain the relation between AC and MC with the help of a diagram.

2. Define cost concept. What are the different types of costs?

3. Calculate the median from the following data:

Marks Frequency

Less Than 10 5

Less Than 20 20

Less Than 30 45

Less Than 40 80

Less Than 50 100

Less Than 60 115

Less Than 70 125

Less Than 80 130

4. Compute median from the following data:

Mid-values 37.5 42.5 47.5 52.5 57.5


No. Of Students 30 20 15 13 22

5. Find the missing frequency form the following distribution, if median is 35 and N = 170.

Variables 10-20 20-30 30-40 40-50 50-60 60-70 70-80


Frequency 10 20 ? 40 ? 25 15

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