Question
Short-run returns to fixed supply of factor of
production are known asSolution
The concept of quasi rent was introduced in economic theory by Marshall Marshall’s concept of quasi-rent is the extension of the Ricardian concept of rent to the short run earnings of the capital equipment (such as machinery, building etc.) which are in inelastic supply in the short run.The distinguishing characteristic of land is the fact that its supply is perfectly inelastic to changes in its price and therefore its earnings depend mainly upon the demand for it. But, in the short run, the fixed capital equipment such as machinery is likewise perfectly inelastic in supply and cost of its production is not relevant once it has been produced
Three of the following four words are alike in a certain way and one is different. Pick the odd one out .
Select the set in which the numbers are related in the same way as are the numbers of the given set.
14, 196, 2744
In the following question, select the odd pair of numbers from the given alternatives.
Four letter-clusters have been given out of which three are alike in some manner and one is different. Select the one that is different.
Select the odd number from the given alternatives.
2197 4098 3375 1728
In the following question, select the odd number from the given alternatives.
Three of the following words are alike in some manner and hence form a group. Which word does NOT belong to that group? (The words must be considered a...
In the following number - pairs, the second number is obtained by applying certain mathematical operations to the irst number. In three of the four pair...
Four number-pairs are given, out of which three are alike in a certain manner and one is different. Choose the different number-pair.
Select the letter cluster which does not belong to the same group from the given alternatives.