Advertisements
Advertisements
Question
Mention the economies reaped from inside the firm
Options
financial
technical
managerial
all of the above
Solution
all of the above
APPEARS IN
RELATED QUESTIONS
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
What are the different phases in the Law of Variable Proportions in terms of Total Product ? Give reasons behind each phase. Use diagram.
What is the law of variable proportions?
Product obtained from additional factors of production is termed as
Modern economists have propounded the law of
Bring out the Relationship among Total, Average and Marginal Products.
Which one of the following is NOT a ceteris paribus assumption of the Law of Supply?
When the Marginal Product turns negative, Total Product will ______.
Why is the AVC curve U-shaped?
At the point of inflexion, ______ is maximum.
With the help of a diagram, explain the relationship between Average Product and Total Product under the Law of Variable Proportions.
Study the data given below and identify the laws followed in the production of A and B depicted in the Table I and Table II. Justify your answer with a reason for each.
| Table I | Table II | ||||
| Machines | Labour | Output of A (units) | Machines | Labour | Output of B (units) |
| 5 | 10 | 1000 | 5 | 10 | 400 |
| 5 | 11 | 1150 | 10 | 20 | 800 |
| 5 | 12 | 1310 | 15 | 30 | 1200 |
What are Average product?
What are Marginal product?
With the help of a suitable diagram, discuss the relationship between Average product and Marginal Product.
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
