Indian School Muscat 
                                                                                                                                                                                                                                                                                                                                                                                                                                            Introductory Microeconomics 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                Class : 12                                                                                                                                                                                                                                                                                                                                                                                            Worksheet No. 06:                                                                                                                                                                                                                                                                                                                                                                                               Reference:  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                 PRODUCTION FUNCTION                                                                                                                                                                                                                                                                                                                                                                                                                                                  NCERT text book 
                                                                                                                 Date of issue                                                                                                                                                                                                                                                                                                                                                                                                    Economics (030)                                                                                                                                                                                                                                                                                                                                                                                     Date of submission 
                                                                                                                -----------2018                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       ------------------2018 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                  I - VERY SHORT ANSWER QUESTIONS (1 MARK EACH) 
                                                                                                        1.  State the meaning of the following - 
                                                                                                                                                   (a)                                                                  Total product of an input 
                                                                                                                                                (b)                                                                     Marginal product of an input 
                                                                                                                                                   (c)                                                                  Average product of an input. 
                                                                                                        2.  Define production function. 
                                                                                                        3.  When marginal product is zero, total product will be: 
                                                                                                                                                              (a)                                                                   Increasing 
                                                                                                                                                           (b)                                                                      Maximum 
                                                                                                                                                              (c)                                                                   Falling 
                                                                                                                                                            (d)                                                                     None of the above 
                                                                                                        4.  Law of variable proportions is also known as: 
                                                                                                                                                              (a)                                                                   Law of returns 
                                                                                                                                                           (b)                                                                      Returns to variable factor 
                                                                                                                                                              (c)                                                                   Law of returns to a factor 
                                                                                                                                                            (d)                                                                     All of these 
                                                                                                        5.  The  Total  Product  generated  by  the  first  four  units  of  variable  factor  input  is  200units, 
                                                                                                                                             350units, 450units and 500 units. The Marginal Product of the third unit of input is: 
                                                                                                                                                              (a)                                                                   50 units 
                                                                                                                                                           (b)                                                                      100 units 
                                                                                                                                                              (c)                                                                   150 units 
                                                                                                                                                            (d)                                                                     200 units  
                                                                                                        6.  State the Law Of Diminishing Marginal Product. 
                                                                                                        7.  Are the following statements ‘True’ or ‘False’? Give reasons. 
                                                                                                                                                              (a)                                                                   Only variable factors are used for production in the short period. 
                                                                                                                                                           (b)                                                                      Total Product decreases in diminishing returns to factor 
                                                                                                                                                              (c)                                                                   When Marginal Product is less than Average Product (MP