--%>

Requirement of technically efficient for production

I need a good answer on the topic of Economic problems. Please give me your suggestion that for production to be technically efficient needs that the: (i) Maximum benefits are acquired at the highest possible cost. (ii) Opportunity costs of production are at their lowest possible value. (iii) Economy operates at less than full employment. (iv) Value of output produced is fewer than the value of output forgone. (v) Technology utilized uses the least energy possible.

   Related Questions in Public Economics

  • Q : Problem regarding Property Rights Can

    Can someone help me in finding out the right answer from the following options. Fee simple rights don’t comprise the right to: (1) Demolish your property. (2) Sell your property. (3) Employ your property for your own advantage. (4) Damage another’s propert

  • Q : Existence problem regarding each and

    Can anybody suggest me the proper explanation for existence problem regarding every society. Every society should answer questions regarding “How?, for Whom? and What?” due to the exist

  • Q : Economic questions incapability of

    Economic questions incapable of scientific verification like to correctness or falsity, as like why, how and when to prosecute and execute alleged murderers, or to whom income must be again distributed, fall in the category of: (1) positive economics.

  • Q : Uses of positive economic analysis Hey

    Hey friends I need your help for given problem: Positive economic analysis would be least helpful like a guide to how a society can decrease: (w) specific criminal behavior from punishment. (x) inequality within th

  • Q : Give an example of Production in

    By using knowledge and/or technology to apply energy to change materials, thereby making the materials more precious is: (w) production. (x) demand. (y) a total cure for scarcity. (z) economically profitable. Can someone clarify/he

  • Q : Illustrates a problem of Distributive

    Bob the Baker and Bill the Butcher while both would be willing to trade three loaves of bread for a pair of T-Bone steaks, but for several reasons they not include: (i) Bob must become a vegetarian so he doesn't contain to rely upon Bill. (ii) The economy has producti

  • Q : Effect of current investment Can

    Can someone help me in determining the right answer from the given options. Expanding the current investment associative to current consumption most directly raises an economy’s rate of: (1) Stagnation. (2) Capital absorption. (3) Economic growt

  • Q : Illustration of Opportunity Cost How

    How can I solve my economics problems? Please suggest me the accurate answer. Harry Homeowner pays three hundred dollar monthly upon a mortgage within a neighbourhood where matching houses rent for eight hundred dollar per month. T

  • Q : Requirements of Economic Efficiency

    Economic efficiency needs: (w) distributive, productive and allocative efficiency. (x) engineering and dynamic efficiency. (y) historical and sociological efficiency. (z) chemical and physical efficiency. How can I

  • Q : Laws and government regulations of

    Most of the economists agree that the property rights are finally defined and recognized primarily by: (i) The ‘invisible hand’ of the market system. (ii) The labor theory of value. (iii) Laws and government regulations. (iv) Supply and demand. (v) The bru