Correct Answer: C. internal economies of scale

Explanation

Internal economies are those economies in production which occur to the firm itself when it expands its output or enlarge its scale of production

Correct Answer: B. Tax payer's money

Explanation

Public corporations are run by the government through the tax paid by the people. They are established by an act of parliament or decree and it is controlled by the board of directors, appointed by the government.

Correct Answer: B. increasing

Explanation

When marginal utility diminishes but stays positive, then total utility increases at a decreasing rate as it is the summation of all marginal utilities. This is because positive marginal utility occurs when the consumption of an additional item increases the total utility. Hence whenever marginal utility is positive, total utility increases.

Correct Answer: D. economic rent

Explanation

Economic rent is a surplus arrived at by deducting marginal product and opportunity cost.

Correct Answer: D. Reducing aggregate demand

Correct Answer: D. provision of employment

Explanation

The contribution of agriculture to economic growth and development lies in providing food to expanding population, increasing the demand for industrial products, providing local foreign exchange earnings for the import of capital goods, increasing social income, providing productive employment and improving welfare of farmers

Correct Answer: C. Excess demand is zero

Explanation

Equilibrium price is the price where the demand for a product or a service is equal to the supply of the product or service. At equilibrium, both consumers and producers are satisfied, thereby keeping the price of the product or the service stable.

Correct Answer: C) another good may have been purchased instead of it

Explanation

In economics, a commodity refers to a good or service that is traded in the market. An opportunity cost refers to the cost of an alternative that must be forgone in order to pursue a certain action. Therefore, a commodity is said to have an opportunity cost because choosing to consume or purchase it means that an individual must give up the opportunity to consume or purchase another good.

The question asks why a commodity has an opportunity cost and presents four options to choose from. Option A suggests that a commodity has an opportunity cost because the price of the commodity is high, but this is incorrect. The price of a commodity does not determine its opportunity cost.

Option B suggests that a commodity has an opportunity cost because it is scarce. While scarcity may affect the price of a commodity, it does not necessarily mean that the commodity has an opportunity cost.

Option C is the correct option. It suggests that a commodity has an opportunity cost because choosing to consume or purchase it means that an individual must give up the opportunity to consume or purchase another good.

Option D suggests that a commodity has an opportunity cost because it provides many benefits. However, this does not necessarily imply that the commodity has an opportunity cost.

To summarize, a commodity has an opportunity cost because choosing to consume or purchase it means that an individual must give up the opportunity to consume or purchase another good.

Correct Answer: A. a reduction in the importation of capital goods

Correct Answer: A. joint supply

Explanation

Joint supply occurs when a product or the process of producing a product can yield two or more outputs. For instance, cows can be used for both milk or beef, If the supply of cows increases, it will also lead to an increase in the supply of dairy and beef products.