To manufacture 1,000 pairs of shoes in a week, a firm must use at least 1,500 workers and 5 machines or 100 machines and 150 workers. Which method can be technically efficient?
A) 1,500 workers and 5 machines
B) 150 workers and 100 machines
C) Both
D) Neither
Correct Answer:
Verified
Q2: Which of the following statements is true?
A)
Q3: The production techniques available to real-world firms
Q4: A firm can use 50 workers and
Q5: The minimum efficient level of production refers
Q6: Technical efficiency in production means a given
Q7: Economies of scope exist when the production
Q8: Some children in Siliguri, India, work as
Q9: When per-unit costs increase as output increases,
Q10: An entrepreneur is an individual who sees
Q11: At the planned output level, short-run average
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