Question

Solve these mcqs plzz...

Answer 1

Answers :-

19. Production function is used to measure the technical relationship between input and output .

20. Production per unit of labour employed is called marginal product .

21. When AP is maximum then MP will be equal to AP.

22. Variable factors are those factor of production which can be changed during short run .

23. Both AP and MP curve are in inverted u shaped .

24. Short run will be best described by as long as one input is fixed.

25. In Long run all factors are variable.

26. Additional output resulted due to increase in every variable unit.

27.( i) TP is 22 when output is 2 units. (M.P + fixed factor)

ii) M.P = 36-22→ 14 units .

III) Increasing return to a factor .

28. Total product is maximum when MP is zero .

29. Average product can have only positive value .

30. All the given statements are true .

31. Total product is maximum .

32. MP< AP

33 Variable proportion .