The self-interest assumption is central to the analysis of behavior in both private and public sectors

The ground rules, customs, and conventions that govern the behavior of market participants are often referred to as institutions

Indicate whether the statement is true or false

Technical efficiency

A) ignores the values of the chooser. B) is a necessary precondition for the attainment of economic efficiency. C) is always attained if economic efficiency is achieved. D) is attained whenever the ratio of physical output to physical input is greater than unity. E) is easier to achieve than economic efficiency.