Producer Behaviour and Supply Test

Result

Producer Behaviour and Supply Test - 4

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Weekly Quiz Competition

Question 1
1 / -0

Returns to scale are exhibited by:

A
short run production function

B
long run production function

C
variable proportions type production function

D
all of these
Question 2
1 / -0

In the long run, a producer can increase the level of its output:

A
by increasing the number of plants

B
by increasing the scale of output

C
by sticking to the same scale of output

D
both (a) and (b)
Question 3
1 / -0

Diminishing returns to a factor is due to:

A
fixity of the factor

B
poor coordination between the factors

C
better coordination between the factors

D
both (a) and (b)
Question 4
1 / -0

Law of variable proportions can be postponed through:

A
new technology

B
discovery of the substitute of fixed factor

C
longer hours of work

D
both (a) and (b)
Question 5
1 / -0

MP is diminishing in the stage of:

A
increasing returns

B
diminishing returns

C
negative returns

D
constant returns
Question 6
1 / -0

In the first stage of production:

A
total product is increasing at the increasing rate

B
marginal product is decreasing

C
marginal product is increasing

D
both (a) and (c)
Question 7
1 / -0

Which of the following is correct in the context of law of variable proportions?

A
Units of the variable factor are homogeneous

B
Units of the variable factor are equally efficient

C
State of technology does not change

D
All of these
Question 8
1 / -0

In case of diminishing returns to scale, 100% increase in factor inputs causes:

A
100% increase in output

B
more than 100% increase in output

C
less than 100% increase in output

D
none of these
Question 9
1 / -0

Profits are maximised only when:

A
MR = MC

B
MR is falling

C
MC is rising

D
both (a) and (c)
Question 10
1 / -0

In the context of producer’s equilibrium, which one is incorrect?

A
MR = MC

B
MC is rising

C
cost maximisation

D
profit maximisation

User

Question Analysis

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Re-Attempt Weekly Quiz Competition

Producer Behaviour and Supply Test - 4

Result

Producer Behaviour and Supply Test - 4

Score

-

Rank

-

SHARING IS CARING

Question 1

short run production function

long run production function

variable proportions type production function

all of these

Question 2

by increasing the number of plants

by increasing the scale of output

by sticking to the same scale of output

both (a) and (b)

Question 3

fixity of the factor

poor coordination between the factors

better coordination between the factors

both (a) and (b)

Question 4

new technology

discovery of the substitute of fixed factor

longer hours of work

both (a) and (b)

Question 5

increasing returns

diminishing returns

negative returns

constant returns

Question 6

total product is increasing at the increasing rate

marginal product is decreasing

marginal product is increasing

both (a) and (c)

Question 7

Units of the variable factor are homogeneous

Units of the variable factor are equally efficient

State of technology does not change

All of these

Question 8

100% increase in output

more than 100% increase in output

less than 100% increase in output

none of these

Question 9

MR = MC

MR is falling

MC is rising

both (a) and (c)

Question 10

MR = MC

MC is rising

cost maximisation

profit maximisation

User

Question Analysis

My Perfomance

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