11th Principles of Economics MCQS Chapter 5

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11th Principles of Economics MCQS


According to classical economics, production process is under laws
Three
Five
Four
Two

When total product increases, marginal product
Is positive
May be positive or negative
Is zero
Is negative

The number of laws of cost are
Four
Three
One
Two

Under decreasing return, the slope of marginal product curve is
Negative
Infinite
Zero
Positive

The sector of production, in which nature plays more role, there is applicable
Law of constant return
Law of increasing return
Law of decreasing return
Law of decreasing cost

In production process, when units of variable factors along with fixed factor of production are increased, marginal product goes on failing, this tendency in economics is called
Law of production
Law of decreasing return
Law of constant return
Law of increasing return

In law of constant return, marginal product
Increases
Remains changing
Remains constant
Decreases

When marginal product is zero, total product is
Minimum
Maximum
Negative
Zero

In law of decreasing return, marginal product
Decreases
Increases
Remains constant
Does not change

The second name of law of constant return is
Law of increasing cost
Law of decreasing cost
Law of constant cost
Law of cost

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