The inputs of factors of production include __________

The __________ functional relationship assumes that at least one of the units remains unchanged as the output varies.

The _______ is the result of total product per unit of the variable input

In law of returns to scale, if proportionate increase in output is greater than the proportionate increase in inputs then it is known as ________________

Formula for Breakeven sales is __________

Opportunity Cost is also known as ________

The curve that declines with increase in level of output tends to infinity but never touches the X axis is

The Long run average cost curve (LAC) is a _______

Larger firms get borrowings from bank at a lower rate of interest. This comes under ______

Reasons for increasing returns in Stage I of law of variable proportion is ________

Cobb Douglas production function mainly studies -----------------?

The rate at which a firm can substitute capital for labour and hold output constant is the ________.

What is Production in Economics:

A firm that increases the quantity it produces without any change in per-unit cost is experiencing:

A Monopolist is a:

Under monopoly, the degree of control over price is:

Which market structure is characterized by a few large firms controlling the market?

When marginal cost equals average cost, average cost is

Total fixed cost curve is

A firm is in equilibrium when

If average cost decreases as output increases, the firm experiences

Marginal product becomes zero when total product is

The stage of production in which marginal product is positive but falling is called

The law of diminishing marginal returns applies to the

When average cost is rising, marginal cost must be

Break-even point is where

In perfect competition, demand curve faced by a firm is

In monopoly, price elasticity of demand is generally

The distinguishing feature of monopolistic competition is

In an oligopoly, price rigidity is often explained by

When firms agree not to compete but to fix prices, it is known as

Production is the process where goods and services are ________ and includes various forms of utility.

The law of _____________________________comes under long run production function.

The __________________curves show the different combinations of two resources with which a firm produces equal or same level of output.

Expand MRTS ______________________________________

The line which shows different possible combinations of two factors, that a firm can buy with a given expenditure or outlay is known as ______________

___________________________is an economic tool that determines how changes in an organization's sales volume affect its costs, revenue, and profit.

Raw materials, Direct labour and overheads are examples of ______________cost.

______________economies mean the benefits of large-scale production available to an organisation due to division of labour within its own operation.

The curve that implies that the more experienced a company is in manufacturing a specific product, the lower its cost of production is known as ________________.

In economies of scope, when a company produces a ______________ of products the unit cost to produce a product will decline.

A market exists where there is ............................ between buyers and sellers.

Buying and selling takes place in a ............................

The process of ............................ and ............................ takes place simultaneously in market place.

A market has existence of buyers and sellers, communication between them and ______________.

Under perfect competition, the firms are producing ______________ product.

When the Average revenue of the firm is greater than its average cost, the firm is earning __________.

The perfect competitive firms are __________.

An __________ is a curve on a graph that measures output, and the trade-off between two factors needed to keep that output constant.

An _______ show all combinations of factors that cost the same amount.

____________ refer to the cost advantage experienced by a firm when it increases its level of output.

The cost incurred on the use of self-owned resources is called __________ cost.

The additional output produced by employing one more unit of a variable factor is called __________.

When total revenue equals total cost, the firm is at __________ point.

The slope of the total cost curve gives __________ cost.

When average cost equals marginal cost, both are at their __________ point.

The long-run average cost curve is often called the __________ curve.

The difference between total revenue and total variable cost is known as __________.

The shape of the marginal cost curve is generally __________ shaped.

The output at which marginal cost equals marginal revenue gives the __________ output level.

Firms in perfect competition can sell any quantity at the __________ market price.

A firm earns normal profit when average cost equals __________.

Price and output determination under monopoly depends upon the firm’s __________ curve.

The part of total cost that changes with the level of production is called __________ cost.

If marginal product is greater than average product, average product will __________.

A horizontal supply curve indicates __________ cost conditions.