Consider the graph below for a firm. At point T, we know that the firm K TC = Total Cost; Q=f(K, L); 100 70 Q, =100 TC, 60 80 A. Is a cost minimizer but not technical efficient. B. Is a cost minimizer. C. Is technical inefficient and a not a cost minimizer. D. Is technical efficient but not a cost minimizer. E. None of the above.
Consider the graph below for a firm. At point T, we know that the firm K TC = Total Cost; Q=f(K, L); 100 70 Q, =100 TC, 60 80 A. Is a cost minimizer but not technical efficient. B. Is a cost minimizer. C. Is technical inefficient and a not a cost minimizer. D. Is technical efficient but not a cost minimizer. E. None of the above.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Consider the graph below for a firm. At point T, we know that the firm
K
TC = Total Cost; Q=f(K, L);
100
E
70
Q, =100
TC,
L
60
80
A. Is a cost minimizer but not technical efficient.
B. Is a cost minimizer.
O C. Is technical inefficient and a not a cost minimizer.
O D. Is technical efficient but not a cost minimizer.
E. None of the above.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2a93e0d5-428d-451d-ad35-58c0053d5913%2Fb7cfc645-78ff-4c02-9a64-0ddb1f3d58ef%2Fnz5yvl_processed.png&w=3840&q=75)
Transcribed Image Text:Consider the graph below for a firm. At point T, we know that the firm
K
TC = Total Cost; Q=f(K, L);
100
E
70
Q, =100
TC,
L
60
80
A. Is a cost minimizer but not technical efficient.
B. Is a cost minimizer.
O C. Is technical inefficient and a not a cost minimizer.
O D. Is technical efficient but not a cost minimizer.
E. None of the above.
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