Which of the Following Statements Is CORRECT

question 54

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.

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Definitions:

Direction of Rotation

The direction in which a mechanical or electrical device rotates, which can be clockwise or counterclockwise.

Leads

Conductors or wires that provide electrical connections between the components of an electrical circuit.

Squirrel-Cage Motor

A type of induction motor characterized by a rotor designed as a series of short-circuited rings connected by bars, resembling a squirrel cage.

Current Draw

The amount of electrical current pulled from a source by a load or device in operation, often measured in amperes.