Efficient production occurs if a firm
A) cannot produce its current level of output with fewer inputs.
B) given the quantity of inputs, cannot produce more output.
C) maximizes profit.
D) All of the above.
Answer: All of the above.
Efficient production occurs if a firm
A) cannot produce its current level of output with fewer inputs.
B) given the quantity of inputs, cannot produce more output.
C) maximizes profit.
D) All of the above.
Answer: All of the above.