Efficiency in production means
...Efficiency in production means
Reducing the size of the work force
Producing a given output with the lowest cost of combination of factors of production
Adoption of capital intensive technology
Increasing the quantity of the fixed factors of production
Correct answer is B
Efficiency of production means that an entity is operating at maximum capacity, where a firm is focused more on increasing the quantity being manufactured while reducing cost.
One of the factors determining price elasticity of demand for a commodity is the ...
A major effect of a long distribution chain is ...
Mobility of labour is NOT affected by ...
A market will be at equilibrium when ...
One of the reasons why Nigeria is a mono-economy is because of her _______ ...