A company needs to know the price of each resource it employs if it wants to determine whether or not it is achieving
A) technological efficiency.
B) economic efficiency.
C) accounting efficiency.
D) managerial efficiency.

Question

Quizplus · Accepted Answer

The price of each resource is necessary to determine if the company is achieving economic efficiency, which is the optimal allocation of resources to minimize costs and maximize output.

A Company Needs to Know the Price of Each Resource