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

Related MCQs

• Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?
• With fixed costs of Rs.400, a firm has average total costs of Rs.3 and average variable costs of Rs.2.50. Its output is:
• In game theory, a situation in which one firm can gain only what another firm loses is called a
• If you know that with 8 units of output, average fixed cost is Rs.12.50 and average variable cost is Rs.81.25, then total cost at this output level is:
• The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
• A firm encountering economies of scale over some range of output will have a:
• A firm may decide to increase its scale so that it has excess production capacity because, by doing so, it is able to
• If a more efficient technology was discovered by a firm, there would be:
• A significant property of Cobb Douglas production function is that the elasticity of substitution between inputs is
• A firm that considers the potential reactions of its competitors when it makes a decision