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)none of the above

Question

Quizplus · Accepted Answer

Economically efficient methods are those that minimize cost for a given level of output, which implies they are also technologically efficient, as they use the least amount of inputs necessary.

Which One of the Following Statements Is True