Answer the question using the following data, which show all available techniques for producing 20 units of a particular commodity In view of the indicated resource prices, the economically most efficient production technique(s) is (are) technique(s)
A) 1.
B) 2 and 4.
C) 3.
D) 1 and 3.

Question

Answer the question using the following data, which show all available techniques for producing 20 units of a particular commodity  In view of the indicated resource prices, the economically most efficient production technique(s) is (are) technique(s)
A) 1. 
B) 2 and 4. 
C) 3. 
D) 1 and 3.

Quizplus · Accepted Answer

By comparing the resource cost per unit of output for each technique, we can see that techniques 2 and 4 have the lowest combined cost per unit of output, making them the most economically efficient choice for producing 20 units of the commodity. Techniques 1 and 3 have higher costs per unit of output, making them less efficient choices.

Answer the Question Using the Following Data, Which Show All