Bissoy.com
Doctors Medicines MCQs Q&A

If for a particular combination of labour and capital, the marginal productivity of capital is 4 units of output and the marginal rate of technical substitution is 2 units of capital per unit of labour, then the marginal productivity of labour will be

If for a particular combination of labour and capital, the marginal productivity of capital is 4 units of output and the marginal rate of technical substitution is 2 units of capital per unit of labour, then the marginal productivity of labour will be Correct Answer 8

Related Questions

When labour is plotted on X-axis and capital is plotted on Y-axis and an iso-quant is prepared, then which of the following statements is/are false ? (a) Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant. (b) Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour. (c) Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.
When labour is plotted on X-axis and capital is plotted on Y-axis and an isoquant is prepared, then which of the following statement(s) is/arefalse?
1. Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant.
2. Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour.
3. Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.
The rate of electricity in the rural area is given below: i) up to 25 units - Rs 5 per unit ii) up to 75 units - Rs 7 per units iii) up to 100 units - Rs 9 per units iv) After 100 units - Rs 13 per units Additional charge after 100 units = Rs. 50 The consumption of the electricity of the household is 120 units. How much electricity bill he has to pay?
Raw material purchased:
1st January, 600 units @ Rs. 12 per unit
12th January, 500 units @ Rs. 14 per unit
21st January, 300 units @ Rs. 13 per unit
Raw material issued for manufacture:
3rd January 300 units
5th January 124 units
15th January 250 units
16th January 300 units
Raw material returned to stores from manufacturing department on 14th January, 50 units. The material is issued on First-in-First out method.
The value of material remaining in store on 21st January will be:
"It is now expected that the variable production cost per unit and the selling price per unit will each increase by 10%, and fixed production cost will rise by 25%. What will be the new break even point?
Selling price - Rs 6 per unit
Variable production cost - Rs 1.20 per unit
Variable selling cost - Rs 0.40 per unit
Fixed production cost - Rs 4 per unit
Fixed selling cost - Rs 0.80 per unit
Budgeted production and sales for the year are 10,000 units."
Statement I The least-cost or optimal input combination of labour capital requires that the marginal revenue productivity ratio of the two inputs should be equal to their price ration.
Statement II In a hypothetical production function of the following from Q = L3 + 15L2 + 10
Where Q = Quantity of the product and L = No. of variable input (labour) the marginal physical productivity of labour is L2 + 15L + 10
The short-run production function for a firm is as follows
Q = -L3 + 15L2 + 10L
Where Q denotes total output in physical units and L denotes units of labour which are homogeneous, but are not perfectly divisible and change in labour does not tend to become zero.
Statement I In this production function, the marginal product of 5th unit of labour is 85.
Statement II Similarly, in this production function, the average product of the 5th unit of labour is 60.
Which one of the following four addresses is NOT EXACTLY same as the other three? Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harrare ZIMBABWE (i) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harare ZIMBABWE (ii) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harare ZIMBABWE (iii) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harrare ZIMBABWE (iv) Technical Information Ltd No. 12, Natal Raod Belgravia P.O. Box 4620 Harare ZIMBABWE
Wages of the workers are normally, the proportionality derived from their efficiency. But the concept of efficiency of labour is itself vague such as amount of physical output, output per man hour or output per man shift. But output is not the function of man alone. There are other factors which affect the output. Which among the following is/are not the factor(s) that would affect the output directly?
1. Physical condition of work
2. Nature of machinery
3. Technical process
4. Quality of raw material
5. System of management
6. Role of fellow workers
7. Competitors in the market
A lady wants to buy the following items in the given price range- 1. Tomato between Rs. 40 and Rs. 45 per kg. 2. Grapes in the price range of Rs. 80 and Rs. 90 per kg. 3. Milk packets at Rs. 23 per liter. In which shop from the following will she definitely get all her items/ A. Shop S sells tomato at Rs. 22.5 per half kg, Grapes at Rs. 82 per kg and milk at Rs. 24 per liter. B. Shop H sells grapes at Rs. 21 per quarter kg, milk at 12.5 per half litre and tomato at Rs. 22 per half kg. C. Shop O sells milk at Rs. 11.5 per half litre, tomato at 21 per half kg and grapes at Rs. 43 per half kg. D. Shop P sells tomato at Rs. 23.5 per half kg, grapes at Rs. 85 per kg and milk at Rs. 23 per litre.