Refer to the diagram. The production of Q ₁ units of output at an average cost of a
A)is not possible, given present technology and resource prices.
B)can be achieved if the firm would hire the optimal mix of resources.
C)would entail X-inefficiency.
D)can be realized if the last dollar spent on each input were equal to its marginal product.

Question

Refer to the diagram. The production of Q ₁ units of output at an average cost of a
A)is not possible, given present technology and resource prices. 
B)can be achieved if the firm would hire the optimal mix of resources. 
C)would entail X-inefficiency. 
D)can be realized if the last dollar spent on each input were equal to its marginal product.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram. The production of Q ₁ units of output at an average cost of a
A)is not possible, given present technology and resource prices. 
B)can be achieved if the firm would hire the optimal mix of resources. 
C)would entail X-inefficiency. 
D)can be realized if the last dollar spent on each input were equal to its marginal product.

Refer to the Diagram