The economically efficient method of production:
A) is the same in all countries.
B) is not influenced by the relative scarcity of inputs.
C) is influenced by the relative scarcity of inputs.
D) does not depend on input prices.

Question

Quizplus · Accepted Answer

The economically efficient method of production is influenced by the relative scarcity of inputs because it determines the cost-effectiveness of using certain inputs over others.

The Economically Efficient Method of Production