Technological efficiency is
A) a necessary and sufficient condition for profit maximization.
B) a sufficient but not necessary condition for profit maximization.
C) a necessary but not sufficient condition for profit maximization.
D) a theoretical construct with little connection to the real world.
C
You might also like to view...
What happens in the secondary market?
A) a corporate financial manager will raise funds for expansion of the firm B) secondary inputs like electricity are sold C) newly issued claims are sold by the borrowing firm to the initial buyer D) already issued claims are sold from one investor to another
Which of the following types of unemployment is most likely the cause of higher- than-normal unemployment when an economy enters recession?
a. cyclical b. frictional c. seasonal d. structural