Question
Highlight four factors that may be used to determine the size of a firm.
Answer
i) Volume of output
ii) Floor area covered/size of land occupied
iii) Quantity of capital invested
iv) Number of employees engaged
v) Production methods/techniques/technology
vi) Market size served
vii) Volume of sales
ii) Floor area covered/size of land occupied
iii) Quantity of capital invested
iv) Number of employees engaged
v) Production methods/techniques/technology
vi) Market size served
vii) Volume of sales
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