Scale Of Production and Laws of Returns Mcqs Test Preparation Online

Test Instructions

Scale Of Production and Laws of Returns Mcqs Test Preparation Online

1. Economies of scale are of two kinds:
A.
B.
C.
D.

2. During short period, diminishing returns may follow because:
A.
B.
C.
D.

3. When a firm using a fixed amount of land and capital takes on more workers, it finds that marginal product (MP) of labour falls but the average product (AP) of labour rises. This can be explained by the factors that:
A.
B.
C.
D.

4. In law of diminishing returns at least one factor:
A.
B.
C.
D.

5. Which of the following is example of external economies of scale ?
A.
B.
C.
D.

6. Economies of scale:
A.
B.
C.
D.

7. Laws of return apply to firms working in:
A.
B.
C.
D.

8. Negative returns in the short run imply that:
A.
B.
C.
D.

9. When a firm using a fixed amount of land and capital takes on more workers, it finds that marginal product (MP) of labour falls but the average product (AP) of labour rises. This can be explained by the factors that:
A.
B.
C.
D.

10. The maximum point on TP curve is at quantity of labour where:
A.
B.
C.
D.


 

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