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The short run, as economists use the phr...

The short run, as economists use the phrase, is characterized by:

A

1.At least one fixed factor of production and firms neither leaving nor entering the industry.

B

2.A period where the law of diminishing returns does not hold.

C

3.No variable inputs-that is all the factors of production are fixed.

D

4.All inputs being variable.

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a
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FULL MARKS-PRODUCTION-NCERT TEXTBOOK QUESTIONS SOLVED
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  2. Diminishing marginal returns implies:

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  3. The short run, as economists use the phrase, is characterized by:

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  5. To economists, the main difference between short run and long run is t...

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  6. Which one of the following statements is the best definition of produc...

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  7. Diminishing returns occur:

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  8. If the marginal product of labour is below the average product of labo...

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  9. The average product of labour is maximized when marginal product of la...

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  10. The law of variable proportions is drawn under all of the assumptions ...

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  11. Average product is defined as:

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  12. The change in the total product resulting from a change in a variable ...

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  13. Marginal product, mathematically, is the slope of the

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  15. Differentiate , between Short Period and Long Period.

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  16. Differentiate between Short Period production and Long Period producti...

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  17. Explain the relationship between Marginal product and Average Product....

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  18. Explain the relationship between Total Product and Average Product.

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  19. Explain the relationship between Total Product, Average Product and Ma...

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  20. What is the reaction of AP, when: (i) MP is more than AP. (ii) MP ...

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