Production Function

_______ is the functional relationship between physical inputs and physical output of a firm.

When the amount of a factor increases the total output

• Decreases

• is maximum

• Increases

• becomes zero

_____________ is a function of inputs.

• Raw Materials

• Output

• Production Function

• Labour

As the slope of the total product curve gets flatter, and the curve becomes

• Convex

• Inverted U shape

• Straight Line

• Concave

________ an addition to the total production by the employment of an extra unit of a factor.

• Average Product

• Total Product

• Marginal Product

• Output

Output is the _________ variable

• Independent

• Dependent

Convexity means that as labor is added, output is increasing at an ________ rate.

• Constant

• Increasing

• Decreasing at a decreasing rate

• Decreasing

When more units of a factor are employed for producing a commodity , the average product first ______ then _______.

• falls,rises

• rises,falls

Which of the following represent 'per labour unit of output'?

• TPP

• Average Physical Product

• Physical Product

• Marginal Product

At the point of inflexion, the marginal product is

• Maximum

• Zero

• Negative