The long-run period is ______ concept.

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The long-run period is ______ concept.

Options:

A . Economical

B . Functional

C . Productional

D . None of the above

Answer: Option B

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Question 1. Factors in the short run are classified as;....

Question 2. In the short run ______ is more active in price determination.....

Question 3. Read the following statement given below and choose the correct alternativeStatement 1- Input refers to the volume of ....by a firm in a given period with given inputs

Question 4. Read the following statement given below and choose the correct alternative.Statement 1- Output per unit of a variable i....2- Average product is also known as an average return.

Question 5. Read the following statement given below and choose the correct alternative.Statement 1- Addition to total product when ....are employed is known as Average product.Statement 2- MP= TP-TP1

Question 6. ______ refers to the increase in the total product when only one factor is increased.....

Question 7. Law of variable proportions is also known as;....

Question 8. Read the following statement given below and choose the correct alternative.Assertion- In the first phase of the law of ....law of variable proportions, TP falls and MP becomes negative.

Question 9. Read the following statement given below and choose the correct alternative.Assertion- Phase one of the Law of variable ....variable proportions is known as increasing returns to a factor.

Question 10. Which of the following are reasons for the law of variable proportions?....

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