Which of the Following Is a CORRECT Statement

question 314

Multiple Choice

Which of the following is a CORRECT statement?

• A) Economic efficiency definitely occurs when a firm cannot increase production without using more resources.
• B) Technological efficiency depends on the costs of resources while economic efficiency depends on only production methods.
• C) Technological efficiency depends only on production methods, while economic efficiency depends on the costs of resources.
• D) all of the above

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Definitions:

Favorable Tax Treatment

Tax policies or provisions that reduce the tax burden on certain activities, income types, or investments to encourage their growth or stability.

Marginal Adjustment

Small, incremental changes made to a plan, system, or calculation in response to changes in circumstances or new information.

Marginal Changes

Small incremental adjustments to a plan of action, often analyzed in economics to understand the effects of slightly altering production, consumption, or investment.

Normative Economic Statements

Statements that reflect an opinion or judgment about what ought to be in the economy, focusing on what should happen or what ought to be.