UGC NET
Ayushi Asked a Question
April 26, 2020 8:44 pmpts 30 pts
  • UGC NET
  • Economics

The opportunity cost of a factor of production is (1) what it is earning in its present use (2) what it can earn in next best alternative use (3) what

Q.26 The opportunity cost of a factor of production is (1) what it is earning in its present use (2) what it can earn in next best alternative use (3) what it can earn in the long period (4) what has to be paid to retain it in its present use. Q.27 Which of the following is correct regarding long-run cost curve? (A) It is least cost of producing each level of output (B) LAC curve is envelope of SAC curves (C) LAC is U-shaped Choose the right answer (1) (A) and (B) only 27. (2) (B) and (C) only (4) (A), (B) and (C) A(3) (A) and (C) only PLEASE HELP ME IN THESE QUESTIONS
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  • Souradeep roychowdhury thankyou
    Q 26. Correct option is 4. If suppose one labor is being used to wash the cars in a factory and he is paid Rs 100 per day. Here labor is the factor of production. Now for the facto...
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