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Author Question: When Acme Inc produces a certain amount of output by using the least amount of inputs, Acme Inc ... (Read 98 times)

ts19998

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on: Jun 29, 2018
When Acme Inc produces a certain amount of output by using the least amount of inputs, Acme Inc definitely
 
  A) maximizes profits.
  B) minimizes labor costs.
  C) achieves technological efficiency.
  D) achieves economic efficiency.

Question 2

Which of the following statements is TRUE?
 
  A) An increase in the price of gasoline will decrease the demand for gasoline.
  B) An increase in the price of gasoline will increase the quantity demanded of gasoline.
  C) An increase in the price of gasoline will increase the supply of gasoline.
  D) An increase in the price of gasoline will increase the quantity supplied of gasoline.


mk6555

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


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