| 1 |
Total product decreases, when marginal product is |
- A. Positive
- B. Negative
- C. Zero
- D. None of these
|
| 2 |
Laws of return are |
- A. Two
- B. Three
- C. Four
- D. Five
|
| 3 |
Applied on agriculture immediately |
- A. Law of increasing return
- B. Law of substitution
- C. Law of decreasing return
- D. Law of decreasing cost
|
| 4 |
According to classical economics, production process is under laws |
- A. Two
- B. Three
- C. Four
- D. Five
|
| 5 |
When average product is maximum, marginal product is |
- A. Equal to average product
- B. More than average product
- C. Less than average product
- D. Zero
|
| 6 |
Supply of the one of the following is not fixed: |
- A. Vegetable
- B. Fruit
- C. Milk
- D. Motor bike
|
| 7 |
Under constant return, the slope of marginal product curve is |
- A. Positive
- B. Negative
- C. Infinite
- D. Zero
|
| 8 |
The number of laws of cost are |
- A. One
- B. Two
- C. Three
- D. Four
|
| 9 |
Market equilibrium take place where: |
- A. D = S
- B. D > S
- C. D < S
- D. Both (b) and (c)
|
| 10 |
The second name of law of increasing return is |
- A. Law of cost
- B. Law of increasing cost
- C. Law of decreasing cost
- D. Law of constant cost
|
