Demand and Supply Mcqs Test 08 Preparation Online

1. A significant property of the Cobb - Douglas production function is that the elasticity of substitution between inputs is?

2. The production techniques are technically efficient?

3. Which of the following cost curves is never Un-shaped?

4. A vertical supply curve parallel to the price axis implies that the elasticity of supply is?

5. An ISO-product curve slopes?

6. Which cost increases continuously with the increase in production?

7. The supply of a commodity refers to?

8. In the short term, when the output of a firm increases, its average fixed cost?

9. Production is a function of?

10. Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost?