Question:
Given below are two statements:
Statement I: In the short run some factors are fixed while in the long run they become varibale.
Statement II: The payment to an input which is in fixed supply in the short run is called quasi rent.
In the light of the above statements, choose the correct answer from the options given below
Given below are two statements:
Statement I: In the short run some factors are fixed while in the long run they become varibale.
Statement II: The payment to an input which is in fixed supply in the short run is called quasi rent.
In the light of the above statements, choose the correct answer from the options given below
Statement I: In the short run some factors are fixed while in the long run they become varibale.
Statement II: The payment to an input which is in fixed supply in the short run is called quasi rent.
In the light of the above statements, choose the correct answer from the options given below
Updated On: Jun 22, 2024
- Both Statement I and Statement II are true
- Both Statement I and Statement II are false
- Statement I is true but Statement II is false
- Statement I is false but Statement II is true
Hide Solution
Verified By Collegedunia
The Correct Option is A
Solution and Explanation
The correct option is (A):Both Statement I and Statement II are true
Was this answer helpful?
0
0
Top Questions on Economics and economic theories
- Who propounded the principle of 'Maximum Social Advantage'?
- CUET (PG) - 2023
- Economics
- Economics and economic theories
- Match List I with List II
LIST I LIST II A. Theory Y I. David McClelland B. Hierarchy of Needs Theory II. Abraham Maslow C. Three-Needs Theory III. Frederick Herzberg D. Motivation-Hygiene Theory IV. Douglas McGregor Choose the most appropriate answer from the options given below:- CUET (PG) - 2023
- Economics
- Economics and economic theories
- Which of the following relative measures of skewness is based on percentiles?
- CUET (PG) - 2023
- Economics
- Economics and economic theories
- Arrange the following Management Theories/Approaches in chronological order, starting from the earliest/oldest.
A. Elton Mayo's Hawthorne Studies
B. Systems Approach
C. Taylor's principles of Scientific Management
D. Total Quality Management
E. Henri Fayol's Modern Management Theory
Choose the correct answer from the options given below:- CUET (PG) - 2023
- Economics
- Economics and economic theories
- Identify the correct statements:
A. As per absolute - income theory of consumption the current consumption expenditure depends upon the current and absolute level of income.
B. The relative - income theory of consumption states the proportion of income consumed by a household depends on the level of its income in relation to the household with which it identifies itself.
C. According to permanent income hypothesis, it is the current income which determines the level of current consumption expenditure.
D. The life cycle theory of consumption was given by Ando and Modigliani
E. The lifecycle hypothesis postulates, that individual consumption in any time period depend upon resources available to individual, the rate of return on his capital and the age of individual.
Choose the correct answer from the options given below:- CUET (PG) - 2023
- Economics
- Economics and economic theories
View More Questions
Questions Asked in CUET PG exam
- Find out the degree of the differential equation \(\frac {d^2t}{ds^2}+(\frac {dt}{ds})^2+2t=0\)
- CUET (PG) - 2023
- Differential Equations
- The surface area of the sphere x2 + y2 + z2 = 9 lying inside the cylinder x2 + y2 = 3y is
- CUET (PG) - 2023
- Surface Area of Cube, Cuboid and Cylinder
- The Ombudsman in a newspaper organisation represents the point of view of the ___.
- CUET (PG) - 2023
- Journalism
- The orthogonal trajectories of the family of curves y = \(ax^3\) is
- The minimum distance of the point (3, 4, 12) from the sphere x2 + y2 + z2 = 1 is
- CUET (PG) - 2023
- Coordinate Geometry
View More Questions