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CodeVID-M11-WS
Production Function — Practice Worksheet
Chapter: Production Function
Topic: Production Function
Maximum Marks: 35
Time: 30 minutes
Name: ____________________ Roll No.: __________ Date: ____________

General Instructions

  • All questions are compulsory.
  • Choose the correct option (A, B, C or D) for each question.
  • The answer key is at the end — try the paper first!
Section A — Multiple Choice (1 mark each) 15 × 1 = 15 marks
1.
Production means creating ____ to satisfy wants.
  • A.Utility (goods and services)
  • B.Money only
  • C.Scarcity
  • D.Demand
2.
Land, labour, capital and enterprise are the:
  • A.Outputs
  • B.Factors of production (inputs)
  • C.Products
  • D.Prices
3.
The technical relationship between inputs and output is the:
  • A.Demand function
  • B.Production function
  • C.Cost function
  • D.Utility function
4.
A period in which at least one factor is fixed is the:
  • A.Long run
  • B.Short run
  • C.Market period only
  • D.No period
5.
In the long run, the number of fixed factors is:
  • A.One
  • B.Zero (all are variable)
  • C.Two
  • D.Many
6.
Total output produced by all units of the variable factor is:
  • A.Average product
  • B.Total product
  • C.Marginal product
  • D.Price
7.
Average product equals:
  • A.TP ÷ L
  • B.TP × L
  • C.Change in TP
  • D.TP + L
8.
Marginal product is the:
  • A.Output per unit
  • B.Addition to TP from one more unit
  • C.Total output
  • D.Price of output
9.
If TP rises from 36 to 44 when labour rises from 3 to 4, MP of the 4th unit is:
  • A.8
  • B.44
  • C.36
  • D.11
10.
Total product is maximum when marginal product is:
  • A.Maximum
  • B.Zero
  • C.Negative
  • D.Rising
11.
The MP curve cuts the AP curve at AP's:
  • A.Minimum
  • B.Maximum
  • C.Zero
  • D.Start
12.
When MP is greater than AP, the AP is:
  • A.Rising
  • B.Falling
  • C.Constant
  • D.Zero
13.
The law of variable proportions operates in the:
  • A.Short run
  • B.Long run
  • C.No run
  • D.Market period only
14.
In Stage I (increasing returns), marginal product:
  • A.Rises
  • B.Falls
  • C.Is negative
  • D.Is zero
15.
In Stage III, total product:
  • A.Rises
  • B.Falls (MP negative)
  • C.Is constant
  • D.Is maximum
Section B — Challenge / Olympiad (2 marks each) 10 × 2 = 20 marks
16.
A farmer keeps adding workers to a fixed field. Output rises fast at first, then slowly, then falls. This pattern is the:
  • A.Law of variable proportions
  • B.Law of demand
  • C.Law of supply
  • D.Law of equi-marginal utility
17.
Diminishing returns set in mainly because, in the short run, the fixed factor:
  • A.Cannot be increased, so each extra worker has less of it to use
  • B.Is unlimited
  • C.Disappears
  • D.Doubles automatically
18.
TP values are 0, 12, 28, 40, 48, 48. The marginal product of the 5th unit is:
  • A.8
  • B.48
  • C.0
  • D.12
19.
From the same data, total product is maximum and MP becomes zero at unit:
  • A.6
  • B.1
  • C.3
  • D.4
20.
A producer is in Stage III where MP is negative. The sensible action is to:
  • A.Reduce the variable factor and move back to Stage II
  • B.Add even more workers
  • C.Stay in Stage III
  • D.Remove the fixed factor
21.
Average product is rising as long as marginal product is:
  • A.Greater than average product
  • B.Less than average product
  • C.Zero
  • D.Negative
22.
The production function Q = f(L, K) tells us about the ____ relationship, not about money costs.
  • A.Physical (technical)
  • B.Financial
  • C.Legal
  • D.Emotional
23.
A bakery can change its workers daily but can only build a bigger oven over a year. Changing only workers is a ____ decision.
  • A.Short-run
  • B.Long-run
  • C.Market-period
  • D.Timeless
24.
In Stage I, increasing returns occur partly because the fixed factor was:
  • A.Under-utilised, so extra workers improve efficiency
  • B.Over-crowded
  • C.Removed
  • D.Negative
25.
Why can a firm not raise output forever simply by hiring more workers on a fixed plant?
  • A.Marginal product eventually falls and turns negative
  • B.Workers never tire
  • C.Capital is infinite
  • D.Output is unlimited

Answer Key

Section A — Multiple Choice (1 mark each)
  1. (A) Utility (goods and services)
  2. (B) Factors of production (inputs)
  3. (B) Production function
  4. (B) Short run
  5. (B) Zero (all are variable)
  6. (B) Total product
  7. (A) TP ÷ L
  8. (B) Addition to TP from one more unit
  9. (A) 8
  10. (B) Zero
  11. (B) Maximum
  12. (A) Rising
  13. (A) Short run
  14. (A) Rises
  15. (B) Falls (MP negative)
Section B — Challenge / Olympiad (2 marks each)
  1. (A) Law of variable proportions
  2. (A) Cannot be increased, so each extra worker has less of it to use
  3. (A) 8
  4. (A) 6
  5. (A) Reduce the variable factor and move back to Stage II
  6. (A) Greater than average product
  7. (A) Physical (technical)
  8. (A) Short-run
  9. (A) Under-utilised, so extra workers improve efficiency
  10. (A) Marginal product eventually falls and turns negative
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