Production is said to be efficient when:

Related MCQs

• The term production refers to:
• Production and consumption takes place simultaneously in the case of
• The choice of techniques of production is related to the problem of
• Production function expresses
• A rational producer will select his level of production in which stage of the law of variable proportions
• Returns to scale refers to the production function where
• According to the Classical economists, general over production is:
• If a worker specializes in the production of a single good, it is called:
• Laws of return shows ---------production function.
• Consumption of capital good in the process of production is called as: