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

Related MCQs

• A graph indicating different combination of inputs with different level of output is called
• A graph indicating different combination of inputs with different level of output is called
• 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:
• If a more efficient technology was discovered by a firm, there would be:
• Functional relationship between input and output known as
• Whenever marginal cost is more than …………average total cost is falling:
• ……….. a schedule that depicts the supply by an individual firm or producer of a commodity in relation to its price
• If all resources used in the production of a product are increased by 20 percent and output increases by 20 percent, then there must be:
• …………a statement in the form of a table that shows the different quantities of a commodity that a firm or a producer offers for sale in the market at different prices.