(a) The inputs available (capital, labour, land etc.)

(b) The economy’s technological efficiency

Both (A) and (B) together

None of the above

Education

Training

Health services

All the above

Increase wages

Decrease wages

Increase the marginal productivity of labourers

Decrease the marginal productivity of labourers

Lower price and higher output

Price equal to marginal cost

Output at the minimum average cost

Higher price and lower output

4%3

3%4

4

1%4