Unit-3

Question

1. Explain concept of Cost.
2. Explain concept of Revenue.
3. Explain short run cost curve.
4. Explain long Run cost curve.
5. Explain types of Revenue.
6. Explain relationship between revenue and Production.
7. Explain types of cost.
8. Explain Marginal cost.
9. Explain Marginal revenue.
10. Explain Average cost.
11. Explain Average revenue.
12. Define Implicit cost and Explicit Cost