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MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR1 Mark
MCQ
Variable proportions type production function exists:
  • A
    when with change in the level of output there is change in factor ratio
  • B
    when it is possible to increase output by increasing the application of the variable factor
  • C
    when scale of production changes with change in the level of output
  • ✓
    both (a) and (b)
✓

Answer

Correct option: D.
both (a) and (b)
(d)

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