Technically inefficient points are points contained in neither the production set nor the production function.

Question

Quizplus · Accepted Answer

Technically inefficient points are points that lie outside the production function, meaning they cannot be produced with the given inputs. Points that are contained in the production set but not on the production function are inefficient points, meaning they can be produced with fewer inputs or more output could be produced with the same inputs.

Technically Inefficient Points Are Points Contained in Neither the Production