Download App

Production and cost — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsProduction and cost3 Marks
Question
When does a production function satisfy increasing returns to scale?
✓

Answer

A production function satisfy increasing returns, when every additional variable factor adds more and more to the total output. It means TP Increase at an increasing order and MP also increases.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Production and cost→Production and cost — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Write a budget line equation of a consumer if the two goods purchased by the consumer, Good X and Good Y are priced at $₹ 10$ and $₹ 5$ respectively and the consumer's income is $₹ 100$.
→
State three causes of increase in supply.
→
'No good is 'normal' or 'inferior', it depends on consumer to consumer'. Do you agree? Justify.
→
Total revenue is Rs. 400 when the price of the commodity is Rs. 2 per unit. When price rises to Rs. 3 per unit, the quantity supplied is 300 units, Calculate the price elasticity of supply.
→
What is firm's demand curve?
→
What is demand?
→
Distinguish between a normal good and an inferior good. Give example in each case.
→
There are large numbers of sellers in a perfectly competitive market. Explain the significance of this feature.
→
Distinguish between stock and supply.
→
Distinguish between normal goods and inferior goods, with examples.
→