Which of the following is CORRECT? Select one: a. If a firm is technologically efficient, it is always economically efficient. b. If a firm is technologically efficient, it is always producing at the lowest costs of production. If a firm is economically efficient, it is always technologically efficient. d. None of these answers is correct.

Which of the following is CORRECT? Select one: a. If a firm is technologically efficient, it is always economically efficient. b. If a firm is technologically efficient, it is always producing at the lowest costs of production. If a firm is economically efficient, it is always technologically efficient. d. None of these answers is correct.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter2: Production Possibilities Frontier Framework

Section: Chapter Questions

Problem 11WNG

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