Increase in output less than proportional to increase in inputs is called:

Related MCQs

• When a firm doubles its inputs and finds that its output has more than doubled, this is known as:
• The functional relationship between inputs and outputs is called
• Let a firm employs 5 labourers and produces 120 units of output. When 6 labourers are employed the firm produces 136 units of output. Then the marginal product is ---
• Income elasticity is positive, but less than unity in the case of:
• Increase in real National Income (NI) means increase in:
• Transformation of inputs into outputs is known as
• When output is zero, variable cost is --------
• Value of output minus intermediate consumption is:
• In the case of diminishing returns to scale, a given proportionate increase in all factors causes
• An increase in market supply, demand remaining the same causes