Question

_______ technique is the one which produces maximum at minimum cost

Answer 1

"isocost" technique is the one which...

Answer 2

Production efficiency technique is the one which produces maximum at minimum cost

• The principle of production efficiency is based around the mapping of the frontier of production possibility.
• Economists often take into account other financial factors, such as capacity implementation and efficiency of the cost return, during the economic operating efficiency process.
• The efficiency of economic development refers to the degree at which an organisation has reached its full capacity. The theory focuses on the mapping of a frontier for development possibilities.