If we wanted to make the statement that a particular point on a production possibility ter was DULIT technically efficient, which of the following additional pieces of information would we need? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C d The relative prices of the goods. Consumer preferences between the goods. The costs of production of the goods. We don't need any additional information if a point is technically efficient, it is also allocatively efficient.
If we wanted to make the statement that a particular point on a production possibility ter was DULIT technically efficient, which of the following additional pieces of information would we need? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C d The relative prices of the goods. Consumer preferences between the goods. The costs of production of the goods. We don't need any additional information if a point is technically efficient, it is also allocatively efficient.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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