![]() ![]() This is because, in the long run all factors of production can be adjusted and variable. No, there can not be some fixed cost in the long run. Can there be some fixed cost in the long run ?. ![]() The table given below shows the total product schedule of labour.Others are different stages of Law of Variable Proportions. Increasing returns, Diminishing returns, Negative returns, Returns to scale.All the following curves are 'U' shaped except.α + β > 1 in the Cobb-Douglas production function exhibits.DMRTS (Diminishing Marginal Rate of Technical Substitution) Identify the shape of the following AFC curveĬ.10 is the marginal product of an increased unit of labour. 10 is the marginal product of an increased unit of labour.Which of the following is statement is correct in this regard ? When a firm increased the number of labour from 10 to 11, keeping the capital fixed the total product increased from 120 to 130.α + β = 1 in the Cobb-Douglas production function exhibits.TP at 5 th unit of labour is 16 and TP at 6 th uit of labour is 18, then MP is.The relationship between input and output is called.Which of the following cost will be zero when production is stopped ?.If input is doubled and output become double, the production function is.Addition to the total product is called.AC (average cost) is the sum of AFC (average fixed cost) and.A set of all the combinations of the two inputs that yield the same level of output is. ![]()
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