Which of the Following Statements Is TRUE? I

question 300

Multiple Choice

Which of the following statements is TRUE? I. A firm that is not economically efficient does not maximize profit.
II) Economic efficiency depends on the relative costs of resources.
III) A technological efficient firm is also economically efficient.

• A) I only
• B) II only
• C) II and III
• D) I and II

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Definitions:

On-demand

A service or product that is available for use or download at any time, immediately responding to consumer requirements.

SaaS

Software as a Service is a software distribution model in which applications are hosted by a vendor or service provider and made available to customers over the internet.

On-demand CRM

Customer Relationship Management software hosted on the cloud, allowing businesses to access their CRM tools over the internet on a pay-per-use or subscription basis.

External Vendor

A third-party company or individual that supplies goods or services to a business or organization.