New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Minimum Support Price (MSP) is fixed on the basis

    of
    A Average cost of production Correct Answer Incorrect Answer
    B Equal to average cost Correct Answer Incorrect Answer
    C Marginal cost of production Correct Answer Incorrect Answer
    D Total cost of production Correct Answer Incorrect Answer

    Solution

    The MSP is fixed by the government based on several factors, primarily the total cost of production, to ensure farmers receive a minimum profit margin for their crops and to safeguard their interests.

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