Production efficiency means that
A) as few resources as possible are being used in production.
B) scarcity is no longer a problem.
C) producing another unit of the good has no opportunity cost.
D) producing more of one good is possible only if the production of some other good is decreased.

Question

Quizplus · Accepted Answer

Production efficiency means that resources are being used in such a way that it is impossible to produce more of one good without reducing the production of another good, indicating that all resources are fully and efficiently utilized.

Production Efficiency Means That