Read the following statement given below and choose the correct alternative. Assertion- In the first phase of the law of variable proportions, TP rises at an increasing rate and MP decreases Reason- In the third phase of the law of variable proportions, TP falls and MP becomes negative.

Both Assertion and Reason are true. The reason is not the correct explanation of the assertion

(a) Both Assertion and Reason are true. The reason is the correct explanation of the assertion

(c) The assertion is true but the reason is not

(d) The reason is true but the assertion is not

Read the following statement given below and choose the correct alternative. Assertion- Phase one of the Law of variable proportions is known as increasing returns to a factor. Reason- Phase two of the Law of variable proportions is known as increasing returns to a factor.

(c) The assertion is true but the reason is not

(a) Both Assertion and Reason are true. The reason is the correct explanation of the assertion

(b) Both Assertion and reason are not true. The reason is not the correct explanation of the assertion

(d) The reason is true but the assertion is not

Which of the following are reasons for the law of variable proportions?

(a) Better utilisation of fixed factors

(b) Indivisibility of fixed factors

(c) Increased efficiency of variable factors.

Which of the following are the reasons for diminishing returns to a factor?

(a) Over utilisation of fixed factors

(b) Indivisibility of fixed factors

(c) Increased efficiency of variable factors.

Which of the following are the reasons for negative returns to a factor?

(a) Limitation of fixed factors

(b) Poor coordination between variable and fixed factors

Which of the following are the assumptions of Law of variable proportions. .

(a) Law of variable proportion applies to the field of production only

(b) The effect of change in output can be easily determined.

To economists, the common thing between the short run and the long is that:

C. In both, production is absent

Direction of TP, AP & MP in 3rd stage of Law of variable proportions shall be

B. TP increasing, AP & MP falling

D. TP & AP increasing, MP falling

The short run is a time period in which:

D. some resources are fixed and others are variable.

B. the level of output is fixed.

C. the size of the production plant is variable.

19. The law of diminishing returns states that: . .

B. as a firm uses more of a variable resource, given the quantity of fixed resources, marginal product of the firm will eventually decrease.

A. as a firm uses more of a variable resource, given the quantity of fixed resources, the average product of the firm will increase.

C. in the short run, the average total costs of the firm will eventually diminish

D. in the long run, the average total costs of the firm will eventually diminish

When the total product curve is falling, the:

B. marginal product of labor is negative.

A. marginal product of labor is zero.

C. average product of labor is increasing.

D. average product of labor must be negative.

C. costs that change with the level of production.

D. defined as the change in total cost resulting from the production of an additional unit of output

Production Function

Authored by Mishti Ramchandani

Other

11th Grade

Used 2+ times

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

Content View

Student View

25 questions

Show all answers

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A period in which output can be changed by changing only variable factors

(a) Long run

(b) Short-run

(d) Factor run

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______ refers to a period in which output can be changed by changing all factors of production.

(a) Long run

(b) Short-run

(d) Factor run

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Read the following statement given below and choose the correct alternative
Statement 1- Input refers to the volume of goods produced by a firm or an industry During a specific period.
Statement 2- Total product is the total quantity of goods produced by a firm in a given period with given inputs

(a) Both are correct

(b) Both are incorrect

(d) Statement 1 is incorrect and statement 2 is correct

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Read the following statement given below and choose the correct alternative.
Statement 1- Output per unit of a variable input is termed as an average product.
Statement 2- Average product is also known as an average return.

(a) Both are correct

(b) Both are incorrect

(d) Statement 1 is incorrect and statement 2 is correct

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Read the following statement given below and choose the correct alternative.
Statement 1- Addition to total product when more units of the variable factor are employed is known as Average product.
Statement 2- MP= TP-TP1

(a) Both are correct

(b) Both are incorrect

(d) Statement 1 is incorrect and statement 2 is correct

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______ refers to the increase in the total product when only one factor is increased.

(a) Production factor

(b) Returns to a factor

(d) Law of Diminishing returns

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Law of variable proportions is also known as;

(a) Law of returns

(b) Law of returns to factors

(d) All of the above

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

20 questions

written test 2 UCSP Quarter 2

Quiz

•

11th Grade

20 questions

BULAN BAHASA

Quiz

•

6th - 12th Grade

20 questions

Ôn tập Tin 11 trong thời gian nghỉ phòng chống dịch COVID-19

Quiz

•

11th Grade

20 questions

Table Napkin Folding

Quiz

•

4th Grade - University

20 questions

FAMOUS MOVIES

Quiz

•

KG - University

26 questions

Apparel I-3.03

Quiz

•

9th - 12th Grade

23 questions

Football teams

Quiz

•

KG - Professional Dev...

20 questions

Unit 1: Research Methods Psychology

Quiz

•

11th - 12th Grade

Popular Resources on Wayground

15 questions

Fractions on a Number Line

Quiz

•

3rd Grade

20 questions

Equivalent Fractions

Quiz

•

3rd Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

$fractions$

22 questions

fractions

Quiz

•

3rd Grade

20 questions

Main Idea and Details

Quiz

•

5th Grade

20 questions

Context Clues

Quiz

•

6th Grade

15 questions

Equivalent Fractions

Quiz

•

4th Grade

20 questions

Figurative Language Review

Quiz

•

6th Grade

Discover more resources for Other

20 questions

-AR -ER -IR present tense

Quiz

•

10th - 12th Grade

15 questions

Main Idea and Supporting Details.

Quiz

•

4th - 11th Grade

12 questions

Add and Subtract Polynomials

Quiz

•

9th - 12th Grade

13 questions

Model Exponential Growth and Decay Scenarios

Quiz

•

9th - 12th Grade

27 questions

7.2.3 Quadrilateral Properties

Quiz

•

9th - 12th Grade

7 questions

Amoeba Sisters Dihybrid Cross Punnett Square

Interactive video

•

9th - 12th Grade

10 questions

The Holocaust: Historical Overview

Interactive video

•

9th - 12th Grade

10 questions

Key Features of Quadratic Functions

Interactive video

•

8th - 12th Grade

Production Function

A period in which output can be changed by changing only variable factors

______ refers to a period in which output can be changed by changing all factors of production.

Read the following statement given below and choose the correct alternativeStatement 1- Input refers to the volume of goods produced by a firm or an industry During a specific period.Statement 2- Total product is the total quantity of goods produced by a firm in a given period with given inputs

Read the following statement given below and choose the correct alternative.Statement 1- Output per unit of a variable input is termed as an average product.Statement 2- Average product is also known as an average return.

Read the following statement given below and choose the correct alternative.Statement 1- Addition to total product when more units of the variable factor are employed is known as Average product.Statement 2- MP= TP-TP1

______ refers to the increase in the total product when only one factor is increased.

Law of variable proportions is also known as;

Read the following statement given below and choose the correct alternative.Assertion- In the first phase of the law of variable proportions, TP rises at an increasing rate and MP decreasesReason- In the third phase of the law of variable proportions, TP falls and MP becomes negative.

Read the following statement given below and choose the correct alternative.Assertion- Phase one of the Law of variable proportions is known as increasing returns to a factor.Reason- Phase two of the Law of variable proportions is known as increasing returns to a factor.

Which of the following are reasons for the law of variable proportions?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Other

Read the following statement given below and choose the correct alternative
Statement 1- Input refers to the volume of goods produced by a firm or an industry During a specific period.
Statement 2- Total product is the total quantity of goods produced by a firm in a given period with given inputs

Read the following statement given below and choose the correct alternative.
Statement 1- Output per unit of a variable input is termed as an average product.
Statement 2- Average product is also known as an average return.

Read the following statement given below and choose the correct alternative.
Statement 1- Addition to total product when more units of the variable factor are employed is known as Average product.
Statement 2- MP= TP-TP1

Read the following statement given below and choose the correct alternative.
Assertion- In the first phase of the law of variable proportions, TP rises at an increasing rate and MP decreases
Reason- In the third phase of the law of variable proportions, TP falls and MP becomes negative.

Read the following statement given below and choose the correct alternative.
Assertion- Phase one of the Law of variable proportions is known as increasing returns to a factor.
Reason- Phase two of the Law of variable proportions is known as increasing returns to a factor.