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Doctors Medicines MCQs Q&A

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.

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. Correct Answer Only 1

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.
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
Statement (A): The isoquant curves are drawn convex to the origin due to the diminishing technical rate of substitution.
Statement (B): The lesser the convexity of the isoquant curve, the greater the possibility of the complementarity of the two inputs.
Statement I The isoquant curves are drawn convex to the origin due to diminishing technical rate of substitution.
Statement II The lesser the convexity of the isoquant curve, the greater the possibility of the complementarity of the two inputs.
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
A three-star medicine is prepared by mixing two type of fluids (A & B) in ratio of 1 : 4. Fluid A is prepared by mixing two type of water, water M and water N in ratio of 4 : 5. Fluid B is prepared by mixing two type of water, water X and water N in ratio of 3 : 7. The final mixture is prepared by 675 units of three-star medicine with water Y. If the concentration of the water N in the final mixture is 60%, then how much water Y had been added to three-star medicine?
An operating system uses the Banker’s algorithm for deadlock avoidance when managing the allocation of three resource types X, Y, and Z to three processes P0, P1, and P2. The table given below presents the current system state. Here, the Allocation matrix shows the current number of resources of each type allocated to each process and the Max matrix shows the maximum number of resources of each type required by each process during its execution.   Allocation Max   X Y Z X Y Z P0 0 0 1 8 4 3 P1 3 2 0 6 2 0 P2 2 1 1 3 3 3   There are 3 units of type X, 2 units of type Y and 2 units of type Z still available. The system is currently in a safe state. Consider the following independent requests for additional resources in the current state: REQ1: P0 requests 0 units of X, 0 units of Y and 2 units of Z REQ2: P1 requests 2 units of X, 0 units of Y and 0 units of Z Which one of the following is TRUE?
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?
Which of the following statements are true/false?
1. Demands for goods is directly proportional to the labour market.
2. Marginal productivity is the addition made to the total production by subtracting one worker from the existing labour force.
3. Demand for labour is dependent on the elasticity of demand for product produced by the labour.
4. At higher wages, the demand for labour will be higher.
Product X is produced by mixing chemical A and chemical B in the ratio of 5 : 4. Chemical A is prepared by mixing two raw materials, P and Q, in the ratio of 1 : 3. Chemical B is prepared by mixing raw materials, Q and R, in the ratio of 2 : 1. Then the final mixture is prepared by mixing 8640 units of product X with water. If the concentration of the raw material Q in the final mixture is 50%, how much water had been added to product X?