Question

technically efficient method of production is *



A. A method that uses less of any one of the inputs to produce the same level of output as compared to any other method

B. A method that uses more of any one of the inputs to produce the same level of output as compared to any other method

C. A method that represents least cost factor combination

D. A method that represents maximum profit

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Answer 1

Answer:

A:A method that uses less of anyone of the inputs to produce the same level of output as compared to any other method