- Cost Analysis is the study of behaviour of …………. , in relation to one or more production criteria.
- Cost Analysis is the study of behaviour of Cost, in relation to —
- For Cost Analysis purposes, the Production Criteria may be —
- For Cost Analysis purposes, the Production Criteria may be —
- Cost Analysis is concerned with …………. of production.
- Production Analysis is concerned with ……………. of production.
- Cost Function refers to the mathematical relationship between cost of a product and the various determinants of Cost. This statement is
- A Cost Function deals with —
- In a Cost Function, the Total Cost or Cost per unit is a/an
- In a cost Function,the Output Quantity is a/an-
- In a Cost Function, the Scale of Operations is a/an-
- In a Cost Function, the Price of Factors of Production is a/an—
- Identify the Dependent Variable in a Cost Function from the following.
- Identify the Dependent Variable in a Cost Function from the following.
- Identify the Independent Variable in a Cost Function from the following.
- Cost Functions are Derived Functions. They are derived from —
- A Cost Function determines the behaviour of Cost With change in —
- The Cost Function indicates the functional relationship between Total Cost and —
- Which of the following is not a determinant of the Firm’s Cost Function?
- The Functional Relationship between Output and the Long Run Cost of Production is known as —
- The Functional Relationship between Output and the Short Run Cost of Production is known as —
- Which of the following statements regarding the Long Run Cost Function is not true?
- Expansion of Scales of operation forms a part of …………….. Cost Function.
- Which theory proposes that a country coUld be better off by producing the product in which it has relatively towel Labour Cost and relatively higher Labour productivity?
- A Product can be produced using two input comhinations A and B. Combination A takes 2 units of Lahour and 8 units of Capital. Combination B takes 3 units of Lahour and 5 units of Capital, whdt is the marginal Rate of Technical Substitution of labour for Capital?

(a) Prices and Revenue

(b) Profits

(c) Costs

(d) Output Quantity

(c) Costs

(a) Selling Prices

(b) Profits

(c) Total Revenue

(d) One or more Production Criteria

(d) One or more Production Criteria

(a) Quantity of output

(b) Scale of operations

(c) Prices of factors of production

(d) All of the above

(d) All of the above

(a) Prices of factors of production

(b) Quantity of output

(c) Either (a) or (b)

(d) Neither (a) nor (b)

(c) Either (a) or (b)

(a) Financial aspects

(b) Physical aspects

(c) Either (a) or (b)

(d) Both (a) and (b)

(a) Financial aspects

(a) Financial aspects

(b) Physical aspects

(c) Either (a) or (b)

(d) Both (a) and (b)

(b) Physical aspects

(a) TRUE

(b) FALSE

(c) Partially True

(d) None of the above

(a) True

(a) Total Cost

(b) Cost per unit

(c) Either (a) or (b)

(d) Neither (a) nor (b)

(c) Either (a) or (b)

(a) Dependent variable

(b) Independent Variable

(c) Either (a) or (b)

(d) Neither(a) nor (b)

(a) Dependent variable

(a) Dependent Variable

(b) Independent Variable

(c) Either (a) or (b)

(d) Neither (a) nor (b)

(b) Independent Variable

(a) Dependent Variable

(b) Independent Variable

(c) Either (a) or (b)

(d) Neither (a) nor (b)

(b) Independent Variable

(a) Dependent Variable

(b) Independent Variable

(c) Either (a) or (b)

(d) Neither (a) nor (b)

(b) Independent Variable

(a) Quantity of Output

(b) Scale of Operations

(c) Total Cost

(d) Price of Factors of Production

(c) Total Cost

(a) Efficiency

(b) Level of Capacity utilisation

(c) Technology

(d) Cost per unit

(d) Cost per unit

(a) Time Period under study

(b) Cost per unit

(c) Total Cost

(d) None of the above

(a) Time Period under study

(a) Demand Function

(b) Supply Function

(c) Isoquant Function

(d) Production Function

(d) Production Function

(a) Output

(b) Input

(c) Technology

(d) Wages

(a) Output

(a) Total Input

(b) Fixed Cost

(c) Total Output

(d) Variable Cost

(c) Total Output

(a) Production Function

(b) Price of Labour

(c) Rent paid for use of Building

(d) Price of the Firm’s Output

(d) Price of the Firm’s Output

(a) Cost Function

(b) Long Run Cost Function

(c) Short Run Cost Function

(d) Output Function

(b) Long Run Cost Function

(a) Cost Function

(b) Long Run Cost Function

(c) Short Run Cost Function

(d) Output Function

(c) Short Run Cost Function

(a) The Firm adjusts Factors of Production to meet the market demand

(b) Firms identify a combination that gives maximum output at the lowest CoSt

(c) Inputs are chosen for production desired level of output

(d) AII the inputs in the long-run are fixed

(d) AII the inputs in the long-run are fixed

(a) Long run

(b) Short run

(c) Fixed

(d) Both (b) and (C)

(a) Long run

(a) Absolute Advantage Theory

(b) Relative Advantage Theory

(c) Comparative Advantage Theory

(d) Imitation Theory

(c) Comparative Advantage Theory

(a) 0

(b) 2

(c) 3

(d) 5

(c) 3

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