A graph indicating different combination of inputs with different level of output is called
1.Iso-cost map
2.BEP map
3.Input-output map
4.Iso-quant map
Posted Date:-2021-11-04 09:10:08
Production may be defined as an act of:
1.Creating utility
2.Earning profit
3.Destroying utility
4.Providing services
Posted Date:-2021-11-04 09:07:03
Related to production function, MRTS stand for;
1.Marginal revenue and total sales
2.Minimum revenue from total sales
3.Marginal rate of total supply
4.Marginal rate of technical substitution
Posted Date:-2021-11-04 09:11:01
The "law of variable proportion" is first explained by
1.Edward west
2.Marshall
3.Veblen
4.Keynes
Posted Date:-2021-11-04 09:09:44
The product under monopolistic competition are
1.differentiated with close substitute
2.perfect substitute
3.differentiated without close substitute
4.homogeneous
Posted Date:-2021-11-04 09:06:43
When all the productive services are increased in a given proportion, the product is increased in the same proportion. This situation is called:
1.Law of increasing
2.Situation of constant returns
3.Fixed cost
4.Variable cost
Posted Date:-2021-11-04 09:07:39
Whenever marginal cost is more than ______________ average total cost is falling:
1.Average total revenue
2.Average total cost
3.Average profit
4.All of these
Posted Date:-2021-11-04 09:08:54
Which are not the features of oligopoly?
1.Few sellers
2.Advertising and sales promotion
3.One firm
4.Conflicting attitudes of firms
Posted Date:-2021-11-04 09:08:18
Which of the following is a short run law?
1.Law of constant return to scale
2.Law of increasing return to scale
3.Law of diminishing return
4.None of these
Posted Date:-2021-11-04 09:10:35
_____ is situation with increased investment and increased price
1.Recession
2.Progress
3.Boom
4.Recovery
Posted Date:-2021-11-04 09:09:19