produc on technology (A) is dominated by another production technology (B). Which of the statements below is correct? Only one is correct. O O A company can still benefit from choosing technology A. It depends on the input factor prices Technology B is a flashy technology. Impressive, but not necessarily more profitable to choose than A. The company incurs unnecessarily high costs by choosing technology A over

produc on technology (A) is dominated by another production technology (B). Which of the statements below is correct? Only one is correct. O O A company can still benefit from choosing technology A. It depends on the input factor prices Technology B is a flashy technology. Impressive, but not necessarily more profitable to choose than A. The company incurs unnecessarily high costs by choosing technology A over

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose a production technology (A) is dominated by another production
technology (B). Which of the statements below is correct? Only one is
correct.
O
O
O
A company can still benefit from choosing technology A. It depends on the
input factor prices
Technology B is a flashy technology. Impressive, but not necessarily more
profitable to choose than A.
The company incurs unnecessarily high costs by choosing technology A over
B.
Technology A violates Norwegian law, while B is legal

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