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प्रश्न
According to the key points, when is production considered efficient?
पर्याय
When output keeps increasing, whatever the cost
When only labour cost is minimum
When each factor’s extra contribution is equal to its cost
When only land and capital are used
MCQ
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उत्तर
When each factor’s extra contribution is equal to its cost
Explanation:
Efficiency in production is achieved when the additional benefit from each factor of production matches the additional cost of using it.
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