Supply Curve Class 11 Notes The supply schedule shows the combinations of different quantities of a commodity that a producer is willing to sell at different levels of price. The graphical representation of a supply schedule is known as a Supply Curve. Topic Supply Curve Subject Microeconomics Category CBSE Economics Class 11 Notes Supply Curve … Read more
Supply Schedule Class 11 Notes Supply is the quantity of a commodity that a producer is willing and able to offer for sale at a given price during a given period of time. The quantity of a commodity being supplied by a firm can be represented in many ways, one of these is a supply … Read more
Concept of Supply Class 11 Notes Similar to demand, the concept of supply also is expressed as a relationship between price and quantity. In Supply Class 11 Notes Supply is a basic economic phenomenon that describes the total amount of a specific good or service that is available to consumers. Topic Concept of Supply Subject … Read more
Producer’s equilibrium when the price is constant Firms can sell any quantity of output at the market-determined price when the price remains constant. Price or AR stays the same at every output level. Additionally, every additional unit’s (MR) revenue is equivalent to AR. It indicates that the AR curve and the MR curve are identical. … Read more
Revenue Curves Under Perfect competition Revenue curve under perfect competition class 11 notes gives a wholesome understanding of the concept. The Average Revenue and Marginal Revenue curves of a firm majorly represent the revenue curve of a firm. These curves show the behaviour of the revenue of a firm. Let us see how the revenue … Read more
What is Revenue in Economics What is Revenue in Economics class 11 notes are presented in this post to understand the concept easily. Revenue is the amount of money that a producer receives from the sale of goods. We need to understand the concept of commodity and how it works. What is revenue? Total revenue … Read more
Relationship Between Total Cost, Marginal Cost, and Average Cost Relationship between different types of cost explains the relationship between total cost, marginal cost, and average cost class 11 notes gives a wholesome understanding of the relationship between these three. There are several types of short-run costs Average Cost (AC), Marginal Cost (MC), and Total Cost … Read more
Short Run Cost in Economics Class 11 Short run cost class 11 notes are presented in this post for easy access to the students. Short-run cost is such a cost that is incurred during the short run of a production process. We know that in the short run, some factors are fixed, while others are … Read more
Cost Concept in Economics Class 11 Notes Cost Concept in Economics class 11 notes is presented in this post for easy access to the students. The cost concept in economics tells us how expensive it will be to produce a certain good or service. Since production costs are important in determining a firm’s output, you must … Read more
Relationship Between Total Product Average Product and Marginal Product Class 11 Notes Relationship between TP and MP class 11 notes are provided to the students in this post for their benefit. There is a unique relationship between total product (TP) and marginal product (MP) and between marginal product (MP) and average product (AP). It is … Read more