The most efficient combination of resources in producing any output is that combination which:
A)comes closest to using the same quantities of land, labour, capital, and entrepreneurial ability.
B)can be obtained for the smallest money outlay.
C)uses the smallest total quantity of all resources.
D)conserves most on the use of labour.

Question

Quizplus · Accepted Answer

The most efficient combination of resources is the one that minimizes costs, meaning it can be obtained for the smallest money outlay while still producing the desired output.

The Most Efficient Combination of Resources in Producing Any Output