Technical Efficiency Is Achieved When a Firm Produces

question 136

Multiple Choice

Technical efficiency is achieved when a firm produces

• A)At an amount indicated by a point on the production function.
• B)Below the opportunity cost for the resources it uses.
• C)Enough output to cover the opportunity cost of resources.
• D)An amount less than or equal to the production function.

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Definitions:

Brain's Plasticity

The ability of the brain to change and adapt in structure and function in response to experience and new learning.

Teratogens

Agents or factors that can cause malformation of an embryo or fetus, including certain drugs, illnesses, and environmental exposures.

Rejects Foods

The act of refusing to eat specific food items, commonly observed in children but can occur at any age due to preferences, allergies, or other reasons.

Newborn

An infant that is in the initial period of life, typically up to a few months old, following birth.