Social Sciences, asked by asha7831, 8 months ago

while keeping other inputs unchanged.
Q. 25. Give the meaning of 'Long run production function'.
Ans. Long run production function refers to a situation when output is increased by increasing all
simultaneously and in the same proportion.
Short Answer Type Questions (3-4 Marks each)
1. What is meant by variable factor and fixed factor? Give two examples of each.
2. Define the following terms: (1) Total product; (ii) Average product; (iii) Marginal product
3. What is meant by returns to a factor? State the law of diminishing returns to a factor.
4. State the relation between Marginal Product and Average Product. Use diagram
5. What is meant by returns to a factor? What leads to increasing returns to a factor? Explain
6. What is meant by diminishing returns to a factor? Why does it occur?
7. In which phase a rational producer will operate in the short run?
8. What does the Law of Variable Proportions show? State the behaviour of total product ac
this law.
9. What does the Law of Variable Proportions show? State the behaviour of marginal product
to this law.
10. State the phases in the behaviour of Total Product as per the Law of Variable Proportions. Use
11. Giving reasons, explain the 'Law of Variable Proportions'​

Answers

Answered by kumarrajputayush
2

Answer:

while keeping other inputs unchanged.

Q. 25. Give the meaning of 'Long run production function'.

Ans. Long run production function refers to a situation when output is increased by increasing all

simultaneously and in the same proportion.

Short Answer Type Questions (3-4 Marks each)

1. What is meant by variable factor and fixed factor? Give two examples of each.

2. Define the following terms: (1) Total product; (ii) Average product; (iii) Marginal product

3. What is meant by returns to a factor? State the law of diminishing returns to a factor.

4. State the relation between Marginal Product and Average Product. Use diagram

5. What is meant by returns to a factor? What leads to increasing returns to a factor? Explain

6. What is meant by diminishing returns to a factor? Why does it occur?

7. In which phase a rational producer will operate in the short run?

8. What does the Law of Variable Proportions show? State the behaviour of total product ac

this law.

9. What does the Law of Variable Proportions show? State the behaviour of marginal product

to this law.

10. State the phases in the behaviour of Total Product as per the Law of Variable Proportions. Use

11. Giving reasons, explain the 'Law of Variable Proportions'

Explanation:

hope it will help you

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Answered by mohdnasar228
0

what are the factor of prodiction

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