Answer to Question #317889 in Microeconomics for Christwivich

Question

1. "As long as all resources are fully employed and every firm in the economy is producing its output using the best available technology, the result will be efficient." Do you agree or disagree with this statement? Explain your answer

Answer 1

Answer.

Yes,I agree with the statement because the economic outcome becomes efficient whenever the their is use of all the scarce resources that can be gotten and making the most out of them.