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 both average and total product are greater than zero, and marginal product equals average product, then total product:
• 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:
• Whenever average product is declining, with increases in input usage,
• Other things remaining the same, the quantity of a product demanded increases with ----- in price.
• The total product curve may initially show output increasing at an increasing rate as more labour is hired because of the:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• Knowledge used to combine resources productively is called:
• When marginal product reaches its maximum, what can be said of total product?
• When average product is at a maximum, marginal product is