Author Question: In the above figure, the maximum number of units that 4 workers can produce is A) 5 units. B) 10 ... (Read 160 times)

daltonest1984 · **on:** Jun 29, 2018

In the above figure, the maximum number of units that 4 workers can produce is

A) 5 units.
B) 10 units.
C) 15 units.
D) more than 15 units.

Question 2

Which of the following statements is TRUE?

I. A firm that is not economically efficient does not maximize profit.
II. Economic efficiency depends on the relative costs of resources.
III. A technological efficient firm is also economically efficient.
A) I only
B) II only
C) II and III
D) I and II