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We get constant returns to scale when:

A. a = ½

B. ß = ½

C. Both of them

D. None of them

Correct Answer : C.


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  1. If production increases under increasing returns to scale, the cost will:
  2. In sweezy model (kinked demand curve model), the role of MC curve:
  3. In economic term water is a:
  4. According to M.Kalecki, the true measure of the degree of monopoly power is the:
  5. When was Adam Smiths major work An Enquiry into the Nature and Causes of Wealth of Nations published?
  6. A monopolist is able to maximize his profit when:
  7. Which of the following pairs of commodities is an example of substitutes?
  8. Diminishing returns occur when a firm:
  9. In modern theory of costs, a firm normally utilizes:
  10. In measuring price-elasticity:
  11. In the range of excess capacity, the average costs are:
  12. A fall in demand for the product under monopolistic competition will likely result in:
  13. Each firm in cournot model starts selling:
  14. According to Saint Thomas Aquinas value is determined by God, but prices by:
  15. Change in quantity demanded refers to:
  16. If a commodity sold under monopoly is got free of cost, then MC will be:
  17. A demand curve is not related to:
  18. The act of producing the output from more than one plant is concerned with:
  19. Which one of the following has been the most influential work of F.H.Knight?
  20. Capital and Development Planning is the work of:
  21. In monopolistic competition, the firms face:
  22. An economic model describing the working of an economy consists of:
  23. The factors of production in perfect competition are:
  24. The engineering production function and engineering costs curves are concerned with the:
  25. In perfect competition, the slope of the total revenue curve of a firm is equal to the:
  26. Moving down along a linear demand curve:
  27. If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
  28. In collusive olligopoly, the firms may make:
  29. Rational economic behavior on the part of the consumer means that he will:
  30. Isocost line shows the combinations of labor and capital where a firms budget is: