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:
Answer & explanation
Correct answer: option 4
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) $f(tx_1, tx_2) < t.f (x_1, x_2)$ |