Which One of the Following Statements Is True

question 48

Multiple Choice

Which one of the following statements is true?

• A)All technologically efficient methods are also economically efficient.
• B)All economically efficient methods are also technologically efficient.
• C)Technological efficiency changes with changes in relative input prices.
• D)Technologically efficient firms will be more likely to survive than economically efficient firms.
• E)Technological efficiency is more important than economical efficiency.

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Definitions:

Injunctive Norm

A belief about what behaviors are generally approved of or disapproved of in one’s culture.

Descriptive Norm

A belief about what most people typically do.

Conserve Water

The practice of using water efficiently to reduce unnecessary waste and to ensure its availability for future generations.

Descriptive Norms

Refers to the perception of behaviors that are typical or normal within a specific group, guiding members' actions based on what is commonly done.