Malthus' forecast of mass starvation as world population increases depends on the existence of:
A) economies of scale
B) diminishing returns
C) free market economics
D) the green revolution
Correct Answer:
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Q13: The time period when all factors are
Q14: Diminishing marginal returns are realised in the
Q15: Division of labour is an important cause
Q16: After a merger, 'rationalisation' usually takes place.
Q17: The phrase 'sometimes profit maximisation means loss
Q19: Average variable cost is equal to:
A) average
Q20: Public limited companies may not maximise their
Q21: At the profit- maximising output level:
A) demand
Q22: If it costs the Delicious Donuts firm
Q23: A firm's total revenue is:
A) marginal revenue
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