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33) Which one of the following statements is not true? A) A production process is technologically efficient only if it is producing a given output at the lowest possible cost. B) If a process is economically efficient, it must be technologically efficient as well. C) Economic efficiency depends on the relative price of inputs, while technological efficiency does not D) Economically efficient firms will be more likely to survive than economically inefficient firms. E) Technologically efficient firms are more likely to survive than technologically inefficient firms.

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Irving Heathcote
Irving HeathcoteLv2
23 Sep 2018
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