Related InterviewSolutions

• What are the factors governing the elasticity of supply?
• State and explain the elasticity of supply?
• Land and Labour are called ………… factors.(a) Primary(b) Secondary(c) Territory(d) Service
• The labour exercised without expecting income is _______(a) Service(b) Physical labour(c) Mental labour(d) None of the above
• What are the Supply Function and its assumptions?
• Who said, that one of the keys of an entrepreneur is “uncertainty – bearing”?(a) JB Clark(b) Schumpeter(c) Knight(d) Adam Smith
• Mention the economies reaped from inside the firm.(a) Financial(b) Technical(c) Managerial(d) All of the above
• In a firm 5 units of factors produce 24 units of the product. When the number of factor increases by one, the production increases to 30 units. Calculate the Average Product.(a) 30(b) 6(c) 5(d) 24
• The long-run production function is explained by ……………(a) Law of Demand(b) Law of Supply(c) Returns to Scale(d) Law of Variable Proportions
• The formula for calculating AP is …………(a) ∆TP/N(b) ∆TP/∆N(c) TP/MP(d) TP/N