Which of the following is CORRECT?
A) If a firm is technologically efficient, it is always economically efficient.
B) If a firm is technologically efficient, it is always producing at the lowest costs of production.
C) If a firm is economically efficient, it is always technologically efficient.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

Economic efficiency implies that a firm is producing at the lowest cost, which requires using the least amount of resources, hence it must also be technologically efficient.

Which of the Following Is CORRECT