When a firm doubles its inputs and finds that its output has more than doubled, this is known as:

Related MCQs

• Increase in output less than proportional to increase in inputs is called:
• Transformation of inputs into outputs is known as
• labourers are employed the firm produces 136 units of output. Then the marginal product is ---
• The functional relationship between inputs and outputs is called
• Firms owned by two or more individuals is known as
• There is no distinction between firm and industry in
• The major objective of a firm is
• The variable cost of a firm vary in direct proportion to the
• When output is zero, variable cost is --------
• Value of output minus intermediate consumption is: