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:

Related MCQs

• When all the productive services are increased in a given proportion, the product is increased in the same proportion. This situation is called:
• The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
• ------------ is situation with increased investment and increased price
• ------------is situation with increased investment and increased price
• The value of an entrepreneur’s resources that she uses in production are known as:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• When marginal product reaches its maximum, what can be said of total product?
• In …….. approach, the demand for new product is estimated on the basis demand of existing product
• In ………approach, on the basis of the growth of an established product, the demand for the new product is estimated
• ………. for a product is a statement of the relation between the quantity supplied and all factors affecting that quantity