Test: Theory Of Production- 2


30 Questions MCQ Test Business Economics for CA Foundation | Test: Theory Of Production- 2


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QUESTION: 1

Law of increasing returns is applicable because of ________

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QUESTION: 2

The function of an entrepreneur is:

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QUESTION: 3

A production function is defined as the relationship between ________.

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QUESTION: 4

Average Fixed Cost = Rs. 20 Quantity Produces = 10 units What will be the Average Fixed Cost of 20th unit?

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QUESTION: 5

Increasing returns to scale occurs due to:

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QUESTION: 6

Functions of the entrepreneur are:

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QUESTION: 7

External Economies of scale are obtained by

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QUESTION: 8

In the first stage of law of variable proportions, total product increases at the ______

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QUESTION: 9

Which of the following is the reason of the working of law of increasing returns?

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QUESTION: 10

During IInd stage of law of Diminishing returns:

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QUESTION: 11

Labour force wants more_______.

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QUESTION: 12

Increase in all input leading to less than proportional increase in output is called ______:

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QUESTION: 13

Who has given the concept of Innovative Entrepreneurship?

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QUESTION: 14

Which function shows relationship between input and output?

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QUESTION: 15

The Law of Diminishing Returns is applicable in _________.

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QUESTION: 16

In the first stage of law of variable proportions, total product increases at the ______

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QUESTION: 17

An Entrepreneur undertakes which one of the following functions?

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QUESTION: 18

In Cobb-Douglas production function, two inputs are

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QUESTION: 19

Consider the following table:

What is the total output, when 2 labour are employed?

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QUESTION: 20

Production function is

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QUESTION: 21

At the point of inflexion, the marginal product is:

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QUESTION: 22

Production activity in the short period is analysed with the help of

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QUESTION: 23

Increase in all input leading to less than proportional increase in output is called ______:

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QUESTION: 24

The three broad types of productive resources are:

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QUESTION: 25

External economics are enjoyed:

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QUESTION: 26

Labour force wants more_______.

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QUESTION: 27

The function of an entrepreneur is:

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QUESTION: 28

Law of diminishing returns is applicable in _________

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QUESTION: 29

If a firm’s output is zero, then

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QUESTION: 30

Average Fixed Cost = Rs. 20
Quantity Produced = 10 units
What will be the Average Fixed Cost of 20th unit?

Solution:

AFC =TFc/tu
where, Afc = RS 20 TU=10 Units
TfC=20*10= 200 (cross multi fication)
afc = tfc /tu
200/20= 10 ans

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