“When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the______________?

Related Mcqs:

What refers to the cost of borrowing money or the amount earned by a unit principal per unit time ?

A. Yield rate B. Rate of return C. Rate of interest D. Economic return...

Perfect monopoly exists only if_______________?

A. the single vendor can prevent the entry of all other vendors in the market B. the single vendor gets the absolute franchise of the product C. the single vendor is the only one who has the permit to sell D. the single vendor is the only one who has the knowledge of the product...

By the condition of a will, the sum of P20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if fund invested at 8% compounded quarterly ?

A. 11.23 years B. 11.46 years C. 11.57 years D. 11.87 years...

In computing depreciation of an equipment, which of the following represents the first cost ?

A. The original purchase price and freight charges B. Installation expenses C. Initial taxes and permit fees D. All of the above...

The true value of interest rate computed by equations for compound interest for a 1 year period is known as __________________?

A. Expected return B. Nominal interest C. Effective interest D. Economic return...