
PRODUCTION FUNCTION QUIZ
Authored by Esha .
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11th Grade
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37 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is NOT a factor of production?
Technology
Information technology
land
Interest
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The law of variable proportions is said to exist when
there are only two variable factors
there is a fixed factor and a variable factor
all factors are variable
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The law of variable proportion examines the production function
is a long run production function
with one fixed factor
keeping all factors variable
with one factor variable, while keeping the other factors fixed
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
As the slope of the total product curve gets flatter, the curve
becomes convex
does not change
becomes concave
becomes vertical
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
When MP is zero
TP is maixmum
TP starts falling
AP becomes negative
TP is zero
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The marginal physical product of labour is given by
ᐃL/ ᐃQ
ᐃP/ ᐃL
ᐃQ/ ᐃL
Q/L
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which stage represents the range of rational production decision?
Stage III
Stage I
Stage II
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