Home

What is the correct answer?

4

Technological efficiency:

A. Is the same as economic efficiency

B. Is achieved when the output produced is maximum for the given level of inputs

C. Means that there is only one way to produce a given quantity of output

D. None of the above

Correct Answer :

B. Is achieved when the output produced is maximum for the given level of inputs


Related Questions

Law of Diminishing Marginal Utility is practically untrue because: In monopoly, when average revenue curve falls: In perfect competition, the slope of the total revenue curve of a firm… Utility is a function of: In cournot model, during the process of adjustment, the number of firms: In case of monopoly, the slope of MR is: In the short-run, in which one of the following situations would a competitive… Theory of revealed preference is based on: If the price of Pepsi Cola goes down, you would predict: Engel curves shows that: If the demand for good is more elastic and government levied a tax per… In the modern theory of costs, the level of production which the firm… When the income of consumer increases then budget line will: The income effect means that consumer purchase more when: The production function can convey to a firm: In general, most of the production functions measure: In monopolistic competition, the aim of the firm is to: Perfect competition implies: If cross-elasticity of one commodity for another turns out to be zero,… A high value of cross-elasticity indicates that the two commodities are: Nash equilibrium says: Which of the following is assumed to be constant when a supply curve is… The cournot model is a model of: In the long-run: Rotten eggs are: In dominant strategies I am doing the best, I can no matter: The production techniques are technically efficient: The main contribution of Prof. Lord Keynes is in the field of: Now-a-days in real life, we are unable to fined: MRSxy measures: