If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:

A. Constant returns to scale

B. Increasing returns to scale

C. Decreasing returns to scale

D. None of the above

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  1. When a consumer reached at the point of saturation then marginal utility (MU) is:
  2. The short run cost curve is U shaped because of:
  3. Revealed Preference Theory was presented by:
  4. If under perfect competition, in the short period, price does not cover the average cost completely,…
  5. If the marginal utility is divided by the price of the commodity then it is called:
  6. Increasing returns imply:
  7. If the commodity is inferior then the Income Effect (I.E) and the Substitution Effect (S.E):
  8. If the price of Pepsi Cola goes down, you would predict:
  9. Which form of market structure is characterized by interdependence in decision-making as between the…
  10. A monopoly producer has:
  11. Karl Marx:
  12. The optimal strategy for a player is termed as:
  13. In the case of superior (normal) commodity, the income elasticity of demand is:
  14. If the price of product increases and in the result the demand for product B also increases then:
  15. Who introduced the concept of Elasticity of Demand into economic theory?
  16. The modern cost curves are based upon the idea of:
  17. If both demand and supply were to increase then:
  18. Economic laws are:
  19. Government planners play a central role in allocating resources:
  20. Some farm land can be used to produce either corn or soybeans. If the demand for corn increases then:
  21. The cobweb model will divergent when the slope of:
  22. External economies are witnessed in:
  23. In finding equilibrium position of a profitmaximizing firm, which technique is most convenient?
  24. Some economists refer to iso-product curves as:
  25. In short run, a firm can change its:
  26. The Modern and Neo-Keynsian Theory of Interestwas presented by:
  27. Change in quantity demanded (expansion and contraction of demand) is:
  28. Production is a function of:
  29. The difference between laws of return and laws of return to scale is:
  30. In case of monopoly, both AR and MR fall, but MR falls: