Economic efficiency definitely occurs whenever
A) a firm cannot increase its output without increasing all its inputs.
B) there are no implicit costs.
C) the most modern technology is used in the production process.
D) the firm produces a given output at the least cost.

Question

Quizplus · Accepted Answer

Economic efficiency is achieved when a firm produces a given output at the least cost, meaning resources are allocated in the most efficient way possible.

Economic Efficiency Definitely Occurs Whenever