The accountant for Muzhi's Sushi claims that Muzhi has accomplished "economic efficiency." This means that Muzhi's Sushi
A) produces a given output using the least inputs.
B) produces a given output at the lowest cost.
C) has an economic profit greater than a normal profit.
D) has a normal profit greater than an economic profit.
B
You might also like to view...
Which of the following creates difficulties in making comparisons of real GDP across nations?
A) Each nation has a different population. B) Relative prices differ sharply across countries. C) Nations produce different goods and services. D) Nations often have different languages.
All of these events will cause an increase (shift to the right) in the demand for U.S. dollar real loanable funds EXCEPT:
a. A decrease in the U.S. real risk-free interest rate. b. An increase in U.S. business investments. c. An increase in U.S. government budget deficits. d. An increase in foreign direct investments (e.g., building Greenfield plants) in the United States. e. All the above increase the demand of real loanable funds.