EASY
CA Foundation
IMPORTANT
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Marginal, average and total product of a firm in the short run will not comprise with
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Important Questions on Theory of Production and Cost
EASY
CA Foundation
IMPORTANT
When average product rises as a result of an increase in the quantity of variable factor, marginal product is:
EASY
CA Foundation
IMPORTANT
If the marginal product of labour is below the average product of labour, it must be true that:
HARD
CA Foundation
IMPORTANT
The average product of labour is maximized when marginal product of labour:
MEDIUM
CA Foundation
IMPORTANT
If the marginal product of labour is below the average product of labour. It must be true that:
MEDIUM
CA Foundation
IMPORTANT
The marginal product curve is above the average product curve when the average product is:
MEDIUM
CA Foundation
IMPORTANT
The marginal, average, and total product curves encountered by the firm producing in the short run exhibit all of the following relationships except:
EASY
CA Foundation
IMPORTANT
Law of variable proportion is valid when:
EASY
CA Foundation
IMPORTANT
Production activity in the short period is analysed with the help of:
