The Seed Varieties Initially Developed Under the Green Revolution Are

question 201

Multiple Choice

The seed varieties initially developed under the Green Revolution are known as

• A) high-yield-varieties (HYVs).
• B) genetically modified organisms (GMOs).

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Definitions:

ATC Curve

The Average Total Cost curve represents the per-unit cost of production (fixed plus variable costs) at different levels of output.

Efficient

The optimal use of resources to achieve the desired ends with minimal waste or effort, often related to production and allocation.

Economy

A system by which goods and services are produced, distributed, and consumed.

Long-Run Equilibrium

A situation in which all firms in a market are making zero economic profit, leading to a stable market condition where no new firms enter or exit.