Law of variable proportion is valid when mcq
Web26 aug. 2024 · Law of variable proportion is valid when one factor is made variable keeping all the other factors constant. The factors of production in the law are not used in fixed combinations. The state of technology is assumed to be given and it is also given that the variable factors are homogenous. Web8 okt. 2024 · Students of class 12 Economics should refer to MCQ Questions Class 12 Economics Production and Costs with answers provided here which is an important chapter in Class 12 Economics NCERT textbook. These MCQ for Class 12 Economics with Answers have been prepared based on the latest CBSE and NCERT syllabus and …
Law of variable proportion is valid when mcq
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WebLaw of variable proportion is valid when: A. only one input is fixed and all other inputs are kept variable: B. all factors are kept constant: C. all inputs are varied in the … Web\n\n \/div>\n \/div>\n\n \/div>\n \/div>\n "); } $('#quizTopicsModal .modal-body').html(''); $("#quizTopicsModal").modal('show'); \/div>\n \/div>\n\n \/div>\n \/div ...
WebThe long run, as economists use the phrase, is characterized by: A. At least one fixed factor of production. B. The law of variable proportions C. The law of Returns to scale D. All inputs being fixed. Answer: C. To economists, the common thing between the short run and the long is that: A. In both, capital is fixed B. In both, labor is variable C. Web30 jun. 2024 · Two criticism of law of variable proportion is: Homogeneity of Variable factors: The assumption of homogeneous or equally efficient variable factors is criticized as it is not practical. Unchanged technologies: Law of variable proportions assumes technology to be given and remain unchanged which makes it unrealistic.
WebThis law applies to all sectors of an economy. The law of variable proportion states that as we employ more and more units of a variable input, keeping other inputs fixed, the total product initially increases at an increasing rate then increases at a … WebThe law of variable proportion states that the rate of growth in a geometric series is inversely proportional to the ratio of the numbers in the system. Economic theory involves many laws and theorems, which denote variable factors’ functioning in variable situations. To explain the law of variable proportion, many factors like production ...
Web8 dec. 2024 · Read the following statements: Assertion (A) and Reason (R), Choose one of the correct alternatives given below: Assertion (A): Production function establishes a relation between inputs and output, which is economicsl in nature. Reason (R): Production function specifies eithe the maximum output than can be produced with the given inputs or the ...
WebAnswer (1 of 13): 1] Understanding short run and long run: Every business has to go through two phases- ‘Short run’ and ‘Long run’. For producing goods the entrepreneur depends on various factors such as land, labour, machinery, raw material, electricity, water, etc. These are collectively term... god perfect willWebDiscussion of MCQs on Law of Variable Proportions with explanation and tips to eliminate the options. Continue on app. Commerce - Business Economics: NTA UGC NET. 15 lessons • 3h 3m . 1. Business Economics- Meaning, Scope. 10:36mins. 2. Business Economics- Law of Variable Proportions & Important MCQs. god performs miraclesWeb17 dec. 2024 · Production and Costs Class 12 MCQs Questions with Answers. Question 1. In production function, production is a function of: (a) Price (b) Factors of Production ... Answer: (b) Law of Variable Proportion. Question 4. Long-run production function is related to: (a) Law of Demand (b) Law of Increasing Returns (c) Laws of Returns to Scale booking first jabWebAssertion- Phase one of the Law of variable proportions is known as increasing returns to a factor. Reason- Phase two of the Law of variable proportions is known as increasing returns to a factor. (a) Both Assertion and Reason are true. The reason is the correct explanation of the assertion (b) Both Assertion and reason are not true. god performs miracles verseWeb7 sep. 2024 · ISC ECONOMICS 12 Cost MCQs with Solved Answers. 16. Which of the following statement is incorrect? (a)TFC is horizontal to x-axis. (b) TC and TVC are S shaped (they rise initially at a decreasing rate, then at a constant rate & finally at an increasing rate) due to law of variable proportions. (c) At zero level of output TC is … booking first vaccineWebLaw of variable proportion explains three stages of production. In the first stage of production: (a) Both MP and AP rise (b) MP rises (c) AP Falls (d) MP is zero Answer Question 7. At which time all the factors of production may be changed ? (a) Short run (b) Long run (c) Very Long run (d) All the three Answer Question 8. god paththiniWeb17 dec. 2024 · The Law of Variable Proportion s states that as the quantity of a factor is increased while keeping other factors constant, the Total Product (TP) first rises at an incremental rate, then at a decremental rate and lastly the total production begins to fall. god permits us son