| 1 |
When marginal product is zero, total product is |
- A. Maximum
- B. Minimum
- C. Negative
- D. Zero
|
| 2 |
The second name of law of decreasing return is |
- A. Law of increasing cost
- B. Law of constant cost
- C. Law of decreasing cost
- D. Law of cost
|
| 3 |
Increasing marginal product shows the law |
- A. Law of increasing return
- B. Law of constant return
- C. Law of decreasing return
- D. Law of diminishing marginal utility
|
| 4 |
When average product increase, marginal product |
- A. Decreases
- B. Is zero
- C. Is negative
- D. Also increases
|
| 5 |
If supply does not change, then due to rise in demand, equilibrium price. |
- A. Increases
- B. Decreases
- C. Does not change
- D. Becomes zero
|
| 6 |
Market equilibrium take place where: |
- A. D = S
- B. D > S
- C. D < S
- D. Both (b) and (c)
|
| 7 |
No factor can take the place of any other factor, it is explained by |
- A. Law of decreasing return
- B. Law of constant return
- C. Law of increasing return
- D. Law of return
|
| 8 |
Supply curve of perishable goods is: |
- A. Horizontal
- B. Vertical
- C. Infinite
- D. All of them
|
| 9 |
The sector of production, in which nature and human beings play an equal role, there is applicable |
- A. Law of decreasing return
- B. Law of decreasing cost
- C. Law of increasing return
- D. Law of constant return
|
| 10 |
In the market period supply is: |
- A. Variable
- B. Fixed
- C. Zero
- D. Positive
|
