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Question-1
Increasing returns to scale occurs due to ________________
(A)
Indivisibility of factors
(B)
Specialization
(C)
1 and 2
(D)
None of these
Question-2
Long run production function is the subject matter of _______________
(A)
Law of variable proportions
(B)
Laws of returns
(C)
Returns to scale
(D)
None of these
Question-3
Short run production function does not come under _________________
(A)
Law of variable proportions
(B)
Laws of returns
(C)
Increasing all the variable factors of production
(D)
None of these
Question-4
_______________ shows the maximum level of output that can be produced with given level of inputs.
(A)
Cob-web theorem
(B)
Theory of production
(C)
H-O theorem
(D)
Production function
Question-5
Over crowding in economic refers to
(A)
Population growth
(B)
Over population
(C)
Applying too much variable factor to a fixed factor
(D)
None of these
Question-6
When marginal product is negative, total products ________________
(A)
Remains constant
(B)
Began to increases
(C)
Began to declined
(D)
None of these
Question-7
In the second stage, total product continues to _________________
(A)
Increase at an increasing rate
(B)
Increase at a diminishing rate
(C)
Decrease at an increasing rate
(D)
None of these
Question-8
We can derive product from average products by _______________ with the units of the variable factor
(A)
Multiple average products
(B)
Adding average products
(C)
Dividing average products
(D)
None of these
Question-9
_______________ are those economies which arise as a result of expansion of the whole industry.
(A)
Internal economies of scale
(B)
External economies of scale
(C)
Constant returns to scale
(D)
Increasing returns to scale
Question-10
In case of increasing returns to scale, if all inputs are increased by 100 percent, output should increase by __________________
(A)
More than 100 percent
(B)
Less than 100 percent
(C)
100 percent
(D)
None of these
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Plus 2 Humanities
ICSE/ISC
Practice in Related Chapters
Micro Economic Theory
Theory of Consumer Behavior; Marginal Utility and Indifference Curve Analysis
Law of Supply and Price Elasticity of Supply
Laws of Returns - Returns to a Factor and Returns to Scale
Demand and Law of Demand
Elasticity of Demand
Cost and Revenue Analysis
FORMS OF MARKET
EQUILIBRIUM OF FIRM
Determination of Equilibrium Price and Output Under Perfect Competition Monopoly and Monopolistic
Equilibrium Price: Market Price
Nature of Goods and Services Produced
National Income Aggregates
INTERNATIONAL TRADE; NEED AND BASIS
Balance of Payments
Theory of Distribution: Marginal Productivity Theory and Determination of Wages
Public Expenditure
PUBLIC DEBT
Fiscal Policy and Deficit Financing
The Theory of Distribution: Rent, Interest and Profit
National Income and Circular Flow of Income
Measurement of National Income
- GOVERNMENT BUDGET
PUBLIC FINANCE;TAXATION
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