Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. In question No.127what is the total output when 2 hours of labour are deployed
a. 155
b. 110
c. 100
d. 165
Q. In question No. 127 what is the marginal output for the 3rd hours of labour
a. 55
b. 50
c. 60
d. 65
Q. In question No. 127 what is the marginal output for the 5th hours of labour
a. 55
b. 50
c. 60
d. 65
Q. In question No. 127 the firm remains in the stage of increasing returns to scale up to level of labour hours
a. 2 labour hours
b. 3 labour hours
c. 4 hrs
d. 6 hrs
Q. In question No. 127 the firm remains in the stage of constant returns to scale upto level of labour hours
a. 2 labour hours
b. 3 labour hours
c. 4 hrs
d. 6 hrs
Q. In question No. 127 the firm enter diminishing returns to scale from -----labour hours
a. 2 labour hours
b. 3 labour hours
c. 5 hrs
d. 6 hrs
Q. In question No. 127 the firm should continue to deploy additional labour hours up to
a. 2 labour hours
b. 3 labour hours
c. 5 hrs
d. 6 hrs
Q. In question No. 127 the optimum level of output of the firm is
a. 355 units
b. 350
c. 340 hrs
d. 300
Q. In question No. 127 if the firm continue to operate beyond 6 labour hours as the labour cannot bedeclared surplus –the firms should ------ to increase the output
a. Increase fixed input
b. Retrench the surplus labour
c. Outsource the work
d. All the three
Q. When a firm enters the law of diminishing returns to scale
a. TVC curve begins to fall at an increasing rate
b. TVC curve begins to increase at an increasing rate
c. TVC curve begins to fall at an decreasing rate
d. TVC curve begins to increase at an decreasing rate
Q. Total cost is the arithmetic sum of
a. AFC and AVC
b. FC and Variable cost
c. Marginal cost and variable cost
d. Sunk cost and fixed cost
Q. Variable cost is also known as
a. Incremental cost
b. Marginal cost
c. Differential cost
d. All the three
Q. Which of these is not a factor of cost function of a product
a. Market price of the product
b. Size of the plant
c. Output level
d. Prices of inputs