11th Principles of Economics MCQS Chapter 5

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11th Principles of Economics MCQS


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

Laws of return are
Four
Five
Two
Three

If in a production sector, along with the fixed factor of production, by increasing units of variable factors, marginal product remains constant, this tendency in economics is called
Law of decreasing return
Law of increasing return
Law of constant return
Law of production

Increasing marginal product shows the law
Law of diminishing marginal utility
Law of increasing return
Law of decreasing return
Law of constant return

The production sector where human brain and intelligence plays more role there is applicable
Law of increasing cost
Law of constant return
Law of increasing return
Law of decreasing return

In perfect competition number of firms is
Two
One
A few
Large

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

When average product decreases, marginal product
Is less than average product
Is zero
Increases
Is equal to average product

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