NECO Economics 2024 Objective — Question 19
Question 19 of 50 from the National Examinations Council (NECO) Economics 2024 Objective paper, with the correct answer and a full explanation.
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In the short-run, a firm can increase its output by
- A. A. increasing the size of its machinesCorrect
- B. B. purchasing more equipment
- C. C. changing its organizational structure
- D. D. increasing the quantity of raw materials
Explanation
The short-run is a production planning period or output by increasing the variable factors of production e.g labour, capital, raw material etc. In the short-run, at least a factor of production is fixed.
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