When Acme, Inc. produces a certain amount of output at least cost, Acme, Inc. definitely
A) achieves economic efficiency.
B) uses more capital than labor.
C) earns a normal profit.
D) None of the above is true.

Question

Quizplus · Accepted Answer

Acme, Inc. achieves economic efficiency when it produces a certain amount of output at least cost. This is because economic efficiency is achieved when a firm produces a given level of output at the lowest possible cost.