| 1 |
When marginal product is zero, total product is |
- A. Maximum
- B. Minimum
- C. Negative
- D. Zero
|
| 2 |
In law of decreasing cost, marginal cost |
- A. Increases
- B. Decreases
- C. Remains constant
- D. Does not change
|
| 3 |
In law of decreasing return, marginal product |
- A. Increases
- B. Decreases
- C. Remains constant
- D. Does not change
|
| 4 |
When total product increases, marginal product |
- A. Is positive
- B. Is negative
- C. May be positive or negative
- D. Is zero
|
| 5 |
In production process when marginal product increases with the increase in units of variable factors along with fixed factor, this tendency in economics is called |
- A. Law of production
- B. Law of increasing return
- C. Law of decreasing return
- D. Law of constant return
|
| 6 |
Supply is Fixed of: |
- A. Perishable goods
- B. Free goods
- C. Durable goods
- D. Substitute goods
|
| 7 |
Under constant return, the slope of marginal product curve is |
- A. Positive
- B. Negative
- C. Infinite
- D. Zero
|
| 8 |
Average product is maximum, when marginal product curve ______ average product curve |
- A. Intersects falling
- B. Intersect rising
- C. Is above
- D. Is below
|
| 9 |
Under decreasing return, the slope of marginal product curve is |
- A. Negative
- B. Positive
- C. Infinite
- D. Zero
|
| 10 |
When average product is maximum, marginal product is |
- A. Equal to average product
- B. More than average product
- C. Less than average product
- D. Zero
|
