[Answered] Scarcity applies to both the rich and the poor. Indicate whether the statement is true or ...

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oliviahorn72

Hero Member
Posts: 579

on: Jun 29, 2018

Scarcity applies to both the rich and the poor.

Indicate whether the statement is true or false

Question 2

Economic efficiency occurs when the firm produces a given output

A) by using the least amount of inputs.
B) by using the maximum amount of inputs.
C) at the least cost.
D) at the greatest cost.

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gcook

Sr. Member
Posts: 343

Reply #1 on: Jun 29, 2018

Answer to Question 1

TRUE

Answer to Question 2

C

oliviahorn72

Member
Posts: 579

Reply 2 on: Jun 29, 2018

Thanks for the timely response, appreciate it

sultansheikh

Member
Posts: 335

Reply 3 on: Yesterday

TYSM

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