Multiple Choice
Firm A can produce a unit of output with 10 hours of labour and 5 units of capital. Firm B can produce a unit of output with 5 hours of labour and 10 units of capital. Firm C can produce a unit of output with 10 hours of labour and 10 units of capital. If the prices of labour and material are $10 and $5, respectively which firm is technologically efficient?
A) A only
B) B only
C) C only
D) A and B
E) A and C
Correct Answer:
Verified
Correct Answer:
Verified
Q25: Flora's Flowers bought a new van last
Q39: In a partnership, each partner is legally
Q40: Susan invests $1,000 to buy shares of
Q41: Which one of the following statements is
Q43: Mr. Brown opens his restaurant as a
Q45: Some firms use large amounts of capital
Q46: The implicit rental rate<br>A)is the firm's opportunity
Q47: The North American economy is _ and
Q48: Which one of the following statements is
Q49: Federal Express enters into contracts with independent