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.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter1: What Is Economics

Section: Chapter Questions

Problem 25AA

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