Firm a Can Produce a Unit of Output with 10

question 79

Multiple Choice

Firm A can produce a unit of output with 10 hours of labor and 5 units of material. Firm B can produce a unit of output with 5 hours of labor and 10 units of material. Firm C can produce a unit of output with 10 hours of labor and 10 units of material. If the prices of labor and material are $10 per hour and $5 per unit, respectively, which of these firms is the most technologically efficient?

• A) firm A only
• B) firm B only
• C) firm C only
• D) Firms A and B could both be technologically efficient.

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Definitions:

Motivating People

The process of inspiring, encouraging, and stimulating individuals or groups to take action or achieve their goals.

Leadership

The skill or ability to lead, guide, and influence the behavior of individuals or groups towards achieving a common goal.

Gaining Commitment

Refers to the process of securing agreement from stakeholders or team members on a particular course of action, plan, or project.

Motivating People

The process of inspiring or encouraging individuals to take action or exhibit behaviors aimed at achieving specific outcomes.