Question

a) Distinguish between stock and supply.

b) Complete the following schedule:

$\begin{array}{cccc}\text{Units Produced}& \text{TPP(in Rs.)}& \text{APP(in Rs.)}& \text{MPP(in Rs.)}\\ 1& 100& & \\ 2& & & 140\\ 3& & 140& \\ 4& 480& & \end{array}$

Answer 1

a). Stock refers to the total quantity of a commodity available with the seller at any given time. Whereas, Supply refers to that quantity of a commodity which a seller is willing to sell at different prices during a given period of time.

(b).

$\begin{array}{cccc}\text{Units Produced}& \text{TPP(in Rs.)}& \text{APP(in Rs.)}& \text{MPP(in Rs.)}\\ 0& 0& -& -\\ 1& 100& 100& 100\\ 2& 240& 120& 140\\ 3& 420& 140& 180\\ 4& 480& 120& 60\end{array}$