A. The average cost increase from rs20 to rs30
B. The total costs for 11 units are rs700
C. The average cost for 10 units is rs1300
D. The average cost for 11 units is rs1300
A. An increase in demand
B. More government spending
C. Better training of employees
D. Productive inefficiency
A. There are no fixed factors of production
B. There are no variable factors of production
C. Utility is maximised when marginal product falls
D. Some factors of production are fixed
A. The minimum efficient scale
B. The minimum external scale
C. The maximum external scale
D. The maximum effective scale
A. An inward shift of the production possibility frontier
B. A movement along the production possibility frontier
C. An outward shift of the production possibility frontier
D. A decision by the government to produce inside the production possibility frontier
A. Market forces of supply and demand
B. The government
C. The law
D. The public sector
A. It is not utilizing its resources fully
B. It is being productively efficient
C. It is a mixed economy
D. It is trading other economies
A. Constantly increasing
B. Fixed at any moment
C. Constantly decreasing
D. Able to be transferred easily between industries
A. Publicly held stock to private individuals
B. Corporately owned businesses to individuals
C. Government businesses to the private sector
D. Privately owned business to the government sector
A. Technological change has made it possible for many industries to become more competitive
B. Because few real natural monopolies exist there is rarely a reason for government regulation
C. Many instances of government regulation have succeeded in reducing competition in industries where competition may be beneficial
D. All of the above