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:

Ecological Perspective

A viewpoint that emphasizes understanding individuals within their physical, social, and cultural environments and how these environments impact behavior and development.

Environments

Describes the surroundings or conditions in which a person, plant, or animal lives or operates, encompassing both natural and built settings.

Human Functioning

Refers to the ways in which individuals operate in their daily lives, encompassing physical, mental, emotional, and social aspects.

Networked Individualism

A social structure wherein individuals operate in networks of relationships rather than bounded social groups, facilitated by digital communication technologies.