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

• The reason the marginal cost curve eventually increases as output increases for the typical firm is because:
• 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:
• If the marginal product of labour is below the average product of labour. It must be true that:
• The marginal product curve is above the average product curve when the average product is :
• If you know that the marginal utility per rupees spent on product Alpha is less than the marginal utility per rupees spent on product Beta, consumers who spend all their income on these two products can:
• If there is excess capacity in a production facility, it is likely that the firm’s supply curve is:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• The marginal product of labour curve shows the change in total product resulting from a:
• When marginal product reaches its maximum, what can be said of total product?
• According to ----------- when income increases by a small increment, it leads to increasing marginal utility of income