Technological efficiency occurs when the firm produces a given output
A) by using the least amount of inputs.
B) by using the maximum amount of inputs.
C) at the least cost.
D) at the greatest cost.
A
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Explain the concept of marginalism as it is used in economics
What will be an ideal response?
Which of the following is least likely to issue commercial paper?
A) General Motors Acceptance Corporation B) A large bank holding company C) General Electric D) The U.S. Treasury
When marginal revenue is zero,
A. P = MR. B. P < MR. C. a small increase in price causes no change in total revenue. D. a small decrease in price causes no change in total revenue. E. both c and d
________ is a market structure in which a large number of firms compete vigorously with each other in producing and selling different varieties of a basic product.
A. Monopolistic competition B. Perfect competition C. Monopoly D. Oligopoly