Description : Third stage of Law of Variable Proportion is called - (1) negative returns (2) positive returns (3) constant returns (4) increasing returns
Last Answer : (1) negative returns Explanation: The stages of Law of Variable Proportion are: Stage 1: Increasing return: Stage 2: Diminishing return; and Stage 3: Negative Return. In the third stage Marginal Product of variable factor is zero. In this stage the Total Product starts diminishing.
Description : It is prudent to determine the size of the output when the industry is operating in the stage of - (1) increasing returns (2) constant returns (3) diminishing returns (4) negative returns
Last Answer : (3) diminishing returns Explanation: In economics, diminishing returns (also called diminishing marginal returns) is the decrease in the marginal (per-unit) output of a production process as the ... other factors of production stay constant. This law plays a central role in production theory.
Description : It is prudent to determine the size of the output when the industry is operating in the stage of (1) increasing returns (2) constant returns (3) diminishing returns (4) negative returns
Last Answer : diminishing returns
Description : If a change in all inputs leads to a proportionate change in output, it is case of - (1) Constant returns to scale (2) Diminishing returns to scale (3) Increasing returns to scale (4) Variable returns to scale
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).
Description : If a change in all inputs leads to a proportionate change in output, it is case of (1) Constant returns to scale (2) Diminishing returns to scale (3) Increasing returns to scale (4) Variable returns to scale
Last Answer : Constant returns to scale
Description : Why is the law of diminishing marginal returns true? a. specialization and division of labor b. spreading the average fixed cost c. limited capital d. all factors being variable in the long-run
Last Answer : c. limited capital
Description : The law of diminishing (marginal) returns states that as more of a variable factor is added to a certain amount of a fixed factor, beyond some point: a. Total physical product begins ... The marginal physical product rises c. The marginal physical product falls d. The average physical product falls
Last Answer : c. The marginal physical product falls
Description : Which can help a producer in determining how much of a product is required the produced? A. Factor-Product Relationship B. Law of Increasing Returns C. Factor-Factor Relationship D. Law of Constant Returns
Last Answer : C. Chenopodium album
Description : Which law states that with constant taste and preferences, the proportion of income spend on food stuff diminishes as income increases? (1) Say's Law (2) Griffin's Law (3) Gresham's Law (4) Engel's Law
Last Answer : (4) Engel's Law Explanation: According to Engel's Law, as disposable income of a consumer increases, the percentage of income spent for food decreases if all other factors remain constant. This ... demand of food is less than 1. A lower Engel coefficient indicates a higher standard of living.
Description : Which law states that with constant taste and preferences, the proportion of income spend on food stuff diminishes as income increases? (1) Say’s Law (2) Griffin’s Law (3) Gresham’s Law (4) Engel’s Law
Last Answer : Engel’s Law
Description : Under increasing returns the supply curve is - (1) positively sloped from is to right (2) negatively sloped from left to right (3) parallel to the quantity-axis (4) parallel to the price -axis
Last Answer : (1) positively sloped from is to right Explanation: Supply curve, in economics, is a graphic representation of the relationship between product price and quantity of product that a seller is willing and ... i.e as the price of a commodity increases in the market, the amount supplied increases).
Description : In Cobb-Douglas production function Q = ALα Kβ there will be increasing returns to scale, if (a) α + β = 1 (b) α + β > 0 (c) α + β > 1 (d) α + β < 1
Last Answer : (c) α + β > 1
Description : Under increasing returns the supply curve is (1) positively sloped from left to right (2) negatively sloped from left to right (3) parallel to the quantity-axis (4) parallel to the price -axis
Last Answer : positively sloped from left to right
Description : When total product remains constant the marginal product will be a. Zero b. Negative c. Positive d. Constant
Last Answer : a. Zero
Description : Law of variable proportion applies……………. (a) When all inputs are variable ; (b) When all input are fixed ; (c) Some inputs are fixed and some are variable ; (d) All the three
Last Answer : (c) Some inputs are fixed and some are variable ;
Description : What effect do increases in the Promotion Budget have on a product’s Awareness? a. Increasing returns b. Constant returns c. Proportionally increasing returns d. Diminishing returns e. None of the above
Last Answer : d. Diminishing returns
Description : Which digital data encoding method records a digital one as a positive pulse and a digital (zero) as a negative pulse and returns the tape to neutral between pulses?
Last Answer : Return-to-zero (RZ) encoding.
Description : What effect does the law if diminishing returns have on total variable cost?
Last Answer : Solve log7 (X+1) + log7 (x-5)=1
Description : Total variable cost curve is explained by (a) Law of the diminishing marginal returns ; (b) The price of the variable inputs; (c) Production function ; (d) All the three
Last Answer : ; (d) All the three
Description : Law of returns to scale applies when……… (a) All inputs cost are variable ; (b) All input cost are fixed; (c) All cost are partly fixed and partly variable ; (d) None
Last Answer : (a) All inputs cost are variable ;
Description : When a firm enters the law of diminishing returns to scale (a) TVC curve begins to fall at an increasing rate (b) TVC curve begins to increase at an increasing rate (c) TVC curve begins to fall at an decreasing rate (d) TVC curve begins to increase at an decreasing rate
Last Answer : (a) TVC curve begins to fall at an increasing rate
Description : Diminishing returns occurs when a firm (a) uses too much of all inputs (b) uses more and more of one input while holding another inputs constant © does not utilize its inputs efficiently (d) cut down on the quantity of all inputs it uses
Last Answer : b) uses more and more of one input while holding another inputs constant
Description : The law of diminishing returns applies to - (1) All sectors (2) Industrial sector (3) Agricultural sector (4) Service sector
Last Answer : (1 ) All sectors Explanation: The classical economists were of the opinion that - the law of diminishing returns applies only to agriculture and to some extractive industries, such as mining, fisheries urban land, etc. However, it is applicable to other sectors such as manufacturing as well.
Description : 4. The demand for labor slopes down and to the right because of a. the law of demand b. the iron law of wages c. the law of diminishing marginal returns d. economies of scale
Last Answer : c. labor is a large percent of the total cost of production
Description : The law of diminishing returns applies to (1) All sectors (2) Industrial sector (3) Agricultural sector (4) Service sector
Last Answer : All sectors
Description : According to modern thinking, the law of diminishing returns applies to (1) agriculture (2) industry (3) mining (4) all fields of production
Last Answer : all fields of production
Description : An imbalanced chemical reaction equation is against the law of (A) Multiple proportion (B) Conservation of mass (C) Constant proportion (D) None of these
Last Answer : (B) Conservation of mass
Description : A firm should cease production in the short run if(a) Price is less than average fixed cost (b) Price is less than average cost (c) Profits are negative (d) Price is less than average variable cost
Last Answer : (d) Price is less than average variable cost
Description : Marginal cost can be equal to Average variable cost when (a) Average variable cost is falling ; (b) Average variable cost is increasing; (c) Average variable cost is constant ; (d) Under any of the above situations
Last Answer : (c) Average variable cost is constant ;
Description : The third stage of Resource Planning involves ? (a) Identification and inventory of resources. (b) Matching the resource development plan with overall National Development plan. (c) ... with appropriate technology. (d) Qualitative and quantitative estimation and measurement of the resources.
Last Answer : (b) Matching the resource development plan with overall National Development plan.
Description : What is the key defining characteristic of experimental research? a. Extraneous variables are never present b. Positive correlation usually exists c. A negative correlation usually exists d. Manipulation of the independent variable
Last Answer : d. Manipulation of the independent variable
Description : Hinge region, the region of Ig molecule which is flexible and more exposed to enzymes is the (A) Region between first and second constant regions of H chain (domains CH1 and CH2) (B) Region between second and ... H chain (CH2 and CH3) (C) Variable regions of H chain (D) Variable regions of L chain
Last Answer : Answer : A
Description : Profits related to a new product in its introductory stage of profit related to new product A.negative B.positive C.higher D.declining Answer: A
Last Answer : A.negative
Description : What is the result of doubling one variable for two in a direct proportion?
Last Answer : Need answer
Description : Fixed cost is a cost: (a) Which changes in total in proportion to changes in output (b) which is partly fixed and partly variable in relation to output (c) Which do not change in total during a given period despise changes in output (d) which remains same for each unit of output
Last Answer : (c) Which do not change in total during a given period despise changes in output
Description : When the total product rises at an increasing rate, the - (1) marginal product is zero (2) marginal product is rising (3) marginal product is falling (4) marginal product remains constant
Last Answer : (2) marginal product is rising Explanation: Marginal product of an input (factor of production) is the extra output that can be produced by using one more unit of the input (for instance ... from total product. The other is average product. Marginal product is directly proportional to total product.
Description : Over the years the contribution of agriculture to Indian GDP is a. Increasing b. Decreasing c. Constant d. None of these
Last Answer : b. Decreasing
Description : If the production possibility curve is linear, then production is said to be subject of (a) constant opportunity cost (b) decreasing opportunity cost © Increasing opportunity cost (d) first increasing then decreasing opportunity cost.
Last Answer : (a) constant opportunity cost
Description : When the total product rises at an increasing rate, the (1) marginal product is zero (2) marginal product is rising (3) marginal product is falling (4) marginal product remains constant
Last Answer : marginal product is rising
Description : The third generation cephalosporins differ from the first generation cephalosporins in that they are: A. More active against gram positive cocci B. More active against gram negative enterobacteriaceae C. Nonimmunogenic D. Not excreted by tubular secretion
Last Answer : B. More active against gram negative enterobacteriaceae
Description : What will be the effect on inferior commodities when income of the consumer rises? (1) Negative effect (2) Positive effect (3) No effect (4) First increase then decrease
Last Answer : (1) Negative effect Explanation: In economics, an inferior good is a good that decreases in demand when consumer income rises (or rises in demand when consumer income decreases), unlike ... consumers' demand increases when their income increases. Cheaper cars are examples of the inferior goods.
Description : If a good has negative income elasticity and positive price elasticity of demand, it is a (1) giffen good (2) normal good (3) superior good (4) an inferior good
Last Answer : (1) giffen good Explanation: A negative income elasticity of demand is associated with inferior goods. The Giffen good is an unusual type of inferior good which has positive price elasticity of demand. It ... rises, violating the law of demand. When price goes up, the quantity demanded also goes up.
Description : If two commodities are complements, then their crossprice elasticity is- (1) zero (2) positive (3) negative (4) imaginary number
Last Answer : (4) imaginary number Explanation: In economics, the cross elasticity of demand or cross-price elasticity of demand measures the responsiveness of the demand for a good to a change in ... denotes two products that are complements, while a positive cross elasticity denotes two substitute products.
Description : Cross elasticity of demand between petrol and car is - (1) infinite (2) positive (3) zero (4) negative
Last Answer : (4) negative Explanation: In economics, the cross elasticity of demand or cross-price elasticity of demand measures the responsiveness of the demand for a good to a change in the ... denotes two products that are complements, while a positive cross elasticity denotes two substitute products
Description : In the case of an inferior good, the income elasticity of demand is : (1) Zero (2) Negative (3) Infinite (4) Positive
Last Answer : (2) Negative Explanation: A negative income elasticity of demand is associated with inferior goods; an increase in income will lead to a fall in the demand and may lead to changes to more luxurious ... demand is associated with normal goods; an increase in income will lead to a rise in demand.
Description : If total utility is maximum at a point, then marginal utility is - (1) positive (2) zero (3) negative (4) positive but decreasing
Last Answer : (2) zero Explanation: Marginal utility of a good or service is the gain (or loss) from an increase (or decrease) in the consumption of that good or service. As the rate ... increase in consumption of units of commodities causes marginal utility to become negative; this signifies dissatisfaction.
Description : firm's marginal revenue A.is always negative B.can be positive C.is always positive D.is zero at point at which the total revenue is maximum
Last Answer : D.is zero at point at which the total revenue is maximum
Description : Cross-price elasticity of demand between tea and coffee is (a) negative (b) positive © zero (d) infinite
Last Answer : (b) positive
Last Answer : Negative effect
Last Answer : giffen good