For a given production function: Y = 10 + 0.6X (Where Y is wheat output and X is fertilizer input), the coefficient 0.6 is called as:
• [(A).] MPP
• [(B).] Slope
• [(C).] Elasticity of production
• [(D).] APP
Choose the correct answer from the options given below:
Given below are two statements:
• [Statement (I):] The term "Operational holding" refers to the gross cropped area cultivated by the farmer.
• [Statement (II):] The objective of subsistence farming is to produce for both home and market.
In light of the above statements, choose the most appropriate answer from the options given below.
Given below are two statements:
• [Statement (I):] The method which helps to compare the present worth of the future revenue with the present investments is known as compounding.
• [Statement (II):] A process by which the present costs are made to grow with time to make it comparable with the future returns is known as discounting.
In light of the above statements, choose the most appropriate answer from the options given below.