Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run________________?
A. Economics of scale
B. Economics of mass production
C. Both of these
D. None of these
Related Questions on Agricultural Economics Mcqs
“Economics is the study of causes of material welfare” was defined by___________________?
A. Adam Smith
B. Marshall
C. Robins
D. Marks
Total money income received by the individual or recipients of income is called____________________?
A. Gross income
B. Net income
C. Personal income
D. None of above
Power of a good/ service to satisfy human desire/want is called____________________?
A. Utility
B. Worth
C. The point of satiety
D. All of these
A. Dumping
B. Subsidy
C. Inflation
D. Monopoly