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?
• In MV=PT, if M doubles and V and T remain constant, then P will:
• 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:
• If a firm’s average cost is Rs.32 at 6 units of output and Rs.34 at 7 unit, which one among the following is the marginal cost of producing the 7th unit
• 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:
• Which cost is to be incurred by a firm even if output is zero:
• If a more efficient technology was discovered by a firm, there would be:
• The total product curve may initially show output increasing at an increasing rate as more labour is hired because of the: