Match List-I with List-II List-

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Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Production and Costs

Question:

Match List-I with List-II

List-I	List-II
(A) Production function	(I) $f(tx_1, tx_2) > t.f (x_1, x_2)$
(B) Constant returns to scale	(II) $f(tx_1, tx_2) < t.f (x_1, x_2)$
(C) Increasing returns to scale	(III) $f (x_1, x_2)$
(D) Decreasing returns to scale	(IV) $f (tx_1, tx_2) = tf (x_1, x_2)$

Choose the correct answer from the options given below:

Options:

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

(A)-(II), (B)-(I), (C)-(III), (D)-(IV)

(A)-(I), (B)-(II), (C)-(IV), (D)-(III)

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Correct Answer:

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Explanation:

The correct answer is Option (4) → (A)-(III), (B)-(IV), (C)-(I), (D)-(II)

List-I	List-II
(A) Production function	(III) $f (x_1, x_2)$
(B) Constant returns to scale	(IV) $f (tx_1, tx_2) = tf (x_1, x_2)$
(C) Increasing returns to scale	(I) $f(tx_1, tx_2) > t.f (x_1, x_2)$
(D) Decreasing returns to scale	(II) $f(tx_1, tx_2) < t.f (x_1, x_2)$