Which of the Following Statements Is Correct

question 186

Multiple Choice

Which of the following statements is correct?

• A) Technological efficiency depends on the relative costs of resources.
• B) Economic efficiency occurs when the firm produces a given output at the least cost.
• C) A firm can be economically efficient without being technologically efficient.
• D) Economic efficiency depends only on production methods.

Analyze the formation and evolution of coastal geographical features.

Assess the environmental and geological factors affecting shoreline stability and changes.

Understand the fundamental beliefs regarding the mission of business and its contribution to society, including perspectives from key economic theorists.

Identify and analyze the importance of various stakeholder groups and their influence on business practices.