Which of the following problems arises where there are mo...
Which of the following problems arises where there are more than one technically possible methods of production
Where to produce
For whom to produce
How to produce
What to produce
Correct answer is C
The problem of how to produce refers to selection of techniques to be used for production of goods and services. By technique we mean labour or capital intensive techniques. That is knowing the input combination to be used.
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The short-run period in production is defined as a period when ...
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The commercial banks differ from non-bank financial institutions because they ...