Production Theory
Authored by Taufik Faturohman
Business
University
Used 12+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Labor, capital, and machine are three types of input in Economic
True
False
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A company runs the short run framework when at least 1 input is fixed
True
False
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Marginal product of labor is the total product (output) that can be produced by one labor?
True
False
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Optimal Use of Labor is reached when Marginal Revenue Product of Labor (MRPL) equals Marginal Resource
Cost of Labor (MRCL)
True
False
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If the increase of output is lower than the increase of inputs, the production exhibit increasing returns to scale
True
False
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