Production efficiency can be defined as
A) being able to produce more of one good only if less of another is produced.
B) producing outside the production possibilities frontier.
C) minimizing opportunity cost.
D) providing for the immediate needs of the greatest proportion of the population.

Question

Quizplus · Accepted Answer

Production efficiency occurs when an economy or entity is operating on its production possibilities frontier, meaning it cannot produce more of one good without producing less of another.

Production Efficiency Can Be Defined as