A line represents the different combinations of two variable inputs used in the production of a given amount of output.

1 Answer

Answer :

 Ans. Isoquant

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Last Answer : (b) It shows various combination of two goods which an economy can produce with a given amount of resources

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Last Answer : (1) Constant returns to scale Explanation: If output increases by that same proportional change as all inputs change then there are constant returns to scale (CRS). If output increases by less than ... by more than that proportional change in inputs, there are increasing returns to scale (IRS).

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Last Answer : ; (d) All the three

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Description : Production function expresses - (1) technological relationship between physical inputs and output (2) financial relationship between physical inputs and output (3) relationship between finance and technology (4) relationship between factors of production

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Description : Production function relates - (1) Cost to output (2) Cost to input (3) Wages to profit (4) Inputs to output

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Last Answer : All of the above

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Last Answer : Inputs to output

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Description : Transformation of physical inputs into physical outputs is termed as

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