Which of the following statements is TRUE? I. A firm that is not economically efficient does not maximize profit.
II) Economic efficiency depends on the relative costs of resources.
III) A technological efficient firm is also economically efficient.
A) I only
B) II only
C) II and III
D) I and II
Correct Answer:
Verified
Q97: Q98: Q99: Q100: Which of the following is CORRECT? Q101: In order to maximize profits, firms organize Q103: A command system is a method of Q104: The principal-agent problem is the issue of Q105: A large part of the principal-agent problem Q106: If worker output is NOT measurable in Q107: A firm that is technologically efficient Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A) If
A) must
