MCQ
Cobb-Douglas production function depends on _____
- ALand, labour
- BLand, capital
- ✓Labour, capital
- DLabour, organisation
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| a) | Natural monopoly | Nickel (Canada) | |
| b) | Artificial monopoly | Gold mines (Africa) | |
| c) | Legal monopoly | Patent right | |
| d) | State monopoly | Railways (India) | |
| a) | Laws of returns to scale | Short run | |
| b) | Laws of variable proportion | Long run | |
| c) | Mp | $\frac{\Delta AP }{\Delta N }$ | |
| d) | Q | f(N. L, K, T) |