Which One of the Following Statements Is Not True

question 21

Multiple Choice

Which one of the following statements is not true?

• A)A production process is technologically efficient only if it is producing a given output at the lowest possible cost.
• B)If a process is economically efficient, it must be technologically efficient as well.
• C)Economic efficiency depends on the relative price of inputs, while technological efficiency does not.
• D)Economically efficient firms will be more likely to survive than economically inefficient firms.
• E)Technologically efficient firms are more likely to survive than technologically inefficient firms.

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Definitions:

Corporate Strategy

A comprehensive plan detailing a business's objectives and the methods it will employ to achieve its goals.

Product Differentiation

A marketing process that showcases the differences between products. Distinctions can be physical, such as features, or intangible, like brand image.

Management Accounting System

A framework used by organizations to provide financial data and information to managers for decision-making purposes.

Product Differentiation Strategy

A marketing strategy that businesses use to distinguish their products from similar offerings in the market, through unique features, branding, or quality.