Explanation:

- Gross Output at Market Prices (MP):

- This refers to the total value of goods and services produced, evaluated at market prices.

- It includes the value of taxes minus subsidies on products.

- Net Output at Market Prices (MP):

- This is the Gross Output minus depreciation.

- It measures the value of goods and services produced, using MP but subtracting the wear and tear of assets.

- Gross Output at Factor Cost (FC):

- This is the measure of output that excludes taxes and includes subsidies.

- It evaluates output based on the cost of factors (labor, capital) used in production, not market prices.

- None:

- This option would imply that "output" doesn't refer to any of the above definitions unless specified otherwise.

Gross Output at Market Prices (MP) is typically what “output” refers to unless stated otherwise.