Author Question: Production efficiency exists when the least cost combination of inputs is used to produce output. ... (Read 52 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
Production efficiency exists when the least cost combination of inputs is used to produce output.
 a. True
  b. False

Question 2

Monopolistic competition is best described as
 a. many firms with some control over price, and some product differentiation
  b. many firms with no control over price, producing identical products
  c. a few firms with some control over price, producing highly differentiated products
  d. a few firms with no control over price, producing similar products
  e. a single firm producing all of the output for the industry, with strong control over price



Yixagurpuldink

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

A

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

For a complete list of videos, visit our video library