If one country can produce a good with fewer resources than another country, this is called:

The cost savings from outsourcing often lead to ________ for consumers and ________ for the outsourcing company

A) lower prices; more output B) lower prices; less output C) higher prices; more output D) higher prices; less output

When Acme Inc produces a certain amount of output by using the least amount of inputs, Acme Inc definitely

A) maximizes profits. B) minimizes labor costs. C) achieves technological efficiency. D) achieves economic efficiency.