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Free Online MCQ Questions of Class – 11 Microeconomics Chapter 7 – Production Function and Returns to a Factor

Free Online MCQ Questions of CBSE Class 11 Microeconomics Chapter 7 – Production Function and Returns to a Factor with Answers. Free Online MCQ Questions for Class 11 Microeconomics with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 11 Microeconomics Production Function and Returns to a Factor Current Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Here you will find a series of Free MCQ on Production Function and Returns to a Factor for Class 11th. This article consists of MCQ related to the topic “Production Function and Returns to a Factor”.

Free Online MCQ Questions of Class -11 Microeconomics

Chapter 7 – Production Function and Returns to a Factor with Answers

  1. Production has been defined as :
    1. Utility creation
    2. Providing services
    3. Agricultural activity
    4. Any of the above
  2. The objective of production activity is :
    1. To earn profit
    2. To create employment
    3. Raise national income
    4. To improve standard of living
  3. The marginal product of a firm is :
    1. Product of efficient workers of a firm
    2. Product of average workers of a firm
    3. Additional output by employing an additional unit of a factor
    4. Any of the above
  4. When average product is falling it is :
    1. Less than marginal product
    2. More than marginal product
    3. Equal to marginal product
    4. Any of the above
  5. When average product increases, the marginal product is :
    1. Less than average product
    2. More than average product
    3. Equal to average product
    4. Any of the above
  6. When average product is maximum it is :
    1. Less than marginal product
    2. More than marginal product
    3. Equal to marginal product
    4. Any of the above
  7. When TP falls :
    1. The AP of labour is zero
    2. The MP of labour is zero
    3. The AP of labour is negative
    4. The AP of labour is declining
  8. When TP is maximum :
    1. The AP of labour is zero
    2. The MP of labour is zero
    3. The AP of labour is negative
    4. The AP of labour is maximum
  9. Second stage of law of variable proportions begin where the MP begins to decline :
    1. Always
    2. Never
    3. Sometimes
    4. Often
  10. The law of diminishing returns refers to an eventual fall in :
    1. Total product of all the factors of production
    2. Total revenue of the firm
    3. Marginal product of the variable factor
    4. All of the above

MCQ Questions of CBSE Class 11 Microeconomics Chapter 7 – Production Function and Returns to a Factor

Answer Key

1 (a)2 (a)3 (c)4 (b)5 (b)
6 (c)7 (d)8 (b)9 (a)10 (c)

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