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If in the long run, output increases in the same proportion as increase in all the input in the given proportion, this is known as:

A. Increasing returns to scale

B. Decreasing returns to scale

C. Constant returns to scale

D. Variable returns to scale

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  1. In the perfect competition, there is a process of:
  2. If the commodity is inferior then:
  3. In perfectly competitive markets, the profit maximization rule can be represented by:
  4. In case of giffin good, price effect is:
  5. The equilibrium conditions, MC = MR = AR = AC, will happen:
  6. Identify the author of The Affluent Society?
  7. In the modern theory of costs, the level of production which the firm considers feasible is known as:
  8. The law of Diminishing Marginal Utility implies that the marginal utility of a good decreases as:
  9. In monopoly, new firms:
  10. Elasticity of Substitution (s) is defined as:
  11. A profit-maximizing monopolist in two separate markets will:
  12. If the commodity is inferior then Income Effect (I.E) is:
  13. The main contribution of Alfred Marshal is in the field of:
  14. The cost of firms in cournot model are:
  15. In the long-run:
  16. Economics define technology as:
  17. An exceptional demand curve is:
  18. The reserve capacity in administration is advocated on the ground that demand for a product will:
  19. The demand of the necessities is:
  20. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:
  21. If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then…
  22. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  23. Capital Saving Technological Progress can be defined as:
  24. In context of oligopoly, the kinky demand curve (kinked demand curve) hypothesis is designed to explain:
  25. The partial equilibrium model keeps other things:
  26. As the price of diamond is higher, so it has:
  27. In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E :
  28. The basic and essential economic problems in a community are related to choice and:
  29. Marginal utility (MU) always:
  30. Which of the following goods is most likely to be exchanged in a market of local rather than national…