Smartindia Classroom
CONTENTS
English
Mathematics
Economics
Accountancy
Business Studies
Computer Application
Back to home
Start Practice
Question-1
In short period there is no change in ________ factors.
(A)
Variable
(B)
Fixed
(C)
Human
(D)
Physical
Question-2
The above formula is used to calculate
(A)
Total Product
(B)
Average Product
(C)
Marginal Product
(D)
Annual Product
Question-3
The total cost (TC) of producing computes software diskettes (Q) is given as TC = 200 + 5Q. What is the variable cost?
(A)
200
(B)
5Q
(C)
5
(D)
5 + (200/Q)
Question-4
If marginal product goes on increasing, it should be understood that law of _________ is applying.
(A)
Increasing Return
(B)
Decreasing Return
(C)
Constant Return
(D)
Diminishing Return
Question-5
The law of diminishing returns assumes that
(A)
All inputs are changed by the same percentage
(B)
There is at least one fixed input
(C)
Additional inputs are added in smaller and smaller increments
(D)
All inputs are held constant
Question-6
The slope of the total product curve is the
(A)
Average Product
(B)
Slope of a line from the origin to the point
(C)
Marginal Product
(D)
Marginal rate of technical substitution
Question-7
A production function assumes a given
(A)
Technology
(B)
Set of input prices
(C)
Ratio of input prices
(D)
Amount of capital and labour
Question-8
A function that indicates the maximum output per unit of time that a firm can produce for every combination of inputs with a given technology is called
(A)
An isoquant
(B)
A production possibility curve
(C)
A production function
(D)
An isocost function
Question-9
Marginal product crosses the horizontal axis (is equal to zero) at the point where
(A)
Average product is maximized
(B)
Total product is maximized
(C)
Diminishing returns set in
(D)
Output per worker reaches a maximum
Question-10
Incremental cost is the same concept as ________ cost.
(A)
Average
(B)
Marginal
(C)
Fixed
(D)
Variable
Your Score 0/10
Click
here
to see your answersheet and detailed track records.
Plus 2 Commerce
Kerala (English Medium)
Practice in Related Chapters
INTRODUCTION TO MICROECONOMICS - THEORY
CONSUMER BEHAVIOUR AND DEMAND
THEORY OF CONSUMER BEHAVIOUR
INTRODUCTION TO MACRO ECONOMICS
Money and Banking
The Theory of Consumer Behaviour (Micro)
Market Equilibrium Under Perfect Competition (Micro)
Elasticity of Demand (Micro)
Theory of Demand (Micro)
Introduction to Micro Economics
Production Function-Returns to a Factor(Micro)
Supply and Elasticity of Supply (Micro)
Cost, Revenue and Producer's Equilibrium(Micro)
Forms of Market (Micro)
The Theory of the firm Under Perfect Competition
Aggreggate Demand and Aggregate Supply
National Income Accounting and Circular flow of Income (Macro)
Powered By
