PREVIOUS YEAR SOLVED PAPERS MCQ - June 2019
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The outcomes of favourable to the event ‘sum of two numbers is 8’ are (6, 2), (5, 3), (4, 4), (3, 5) and (2, 6). There are 5 in number:
The law of diminishing marginal returns states
that as more of a variable resource is combined
with a given amount of another resource,
marginal product eventually declines. The law
of diminishing marginal returns is the most
important feature of production in the short run.
79
Under which of the following situations, economies of scale exists to the potential and persists?
Step-1 : Higher of Municipal value and Fair Rent in this case it will be higher of 450,000 and 5,00,000, So it will be 5,00,000 (let us call it as A).
Step 2 : Lower of A and Standard Rent so it will be lower of 5,00,000 and 4,80,000, So will be 4,80,000. (let us call it B)
Step 3 : Higher of ‘B’ and Actual Rent, So it will be Higher of 4,80,000 and 4,20,000. So the GAV will be 4,80,000.
Step 2 : Lower of A and Standard Rent so it will be lower of 5,00,000 and 4,80,000, So will be 4,80,000. (let us call it B)
Step 3 : Higher of ‘B’ and Actual Rent, So it will be Higher of 4,80,000 and 4,20,000. So the GAV will be 4,80,000.
