True/False
All economically efficient production plans are technologically efficient.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q24: Profit functions are homogeneous of degree zero.
Q25: Profit is constant along an isoquant.
Q26: There are two economically meaningful ways of
Q27: Consider a firm that uses labor and
Q28: If production technologies are homothetic, all cost-minimizing
Q29: Suppose capital and labor are perfect complements
Q30: Output prices are irrelevant for a firm
Q31: We have worked a lot with homothetic
Q33: It is not sufficient for profit maximization
Q34: Changing the labels on isoquants without changing