A Firm That Is Technologically Efficient

question 95

Multiple Choice

A firm that is technologically efficient

• A)always makes an economic profit.
• B)must be economically efficient, but a firm that is economically efficient is not always technologically efficient.
• C)must be economically efficient, and a firm that is economically efficient must always be technologically efficient.
• D)is not always economically efficient, and a firm that is economically efficient is not always technologically efficient.
• E)is not always economically efficient, but a firm that is economically efficient must always be technologically efficient.

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Definitions:

Personal Wellness Accounts

Financial accounts dedicated to funding personal health and wellness expenses, potentially including fitness memberships, nutritional supplements, and mental health services.

Moral Hazard

The situation where one party is more likely to take risks because they do not bear the full consequences of their actions, often seen in the insurance and financial industries.

Opportunity Costs

The value of the next best alternative foregone as the result of making a decision.

Health Care Market

The sector of an economy that provides medical services, pharmaceuticals, and health care equipment, involving patients, providers, and payers.