A firm is said to be productively efficient if _____
A) it produces its output at the lowest possible cost.
B) it sells its product at the lowest possible price.
C) it earns a positive economic profit.
D) it produces what consumers demand.
E) it earns a normal profit in the short run.
Correct Answer:
Verified
Q144: Exhibit 8.11 Q145: Exhibit 8.11 Q146: Exhibit 8.12 Q147: The term productive efficiency refers to _ Q148: Suppose a perfectly competitive increasing-cost industry is Q150: The long-run market supply curve for an Q151: If a firm is not productively efficient,it Q152: Suppose a perfectly competitive constant-cost industry is Q153: In an increasing-cost industry,the entry of new Q154: Exhibit 8.11 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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