To say that markets are "efficient" implies that Select one: firms produce the amount and type of output that society wants with as little waste as possible. O b. firms are able to push costs down below what resource suppliers desire. O c. firms produce output using no resources. O d. profitability is sought without concern for costs. Oa.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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To say that markets are "efficient" implies that
Select one:
O a. firms produce the amount and type of output that society wants with as little waste
as possible.
O b. firms are able to push costs down below what resource suppliers desire.
O c.
firms produce output using no resources.
O d. profitability is sought without concern for costs.
Transcribed Image Text:To say that markets are "efficient" implies that Select one: O a. firms produce the amount and type of output that society wants with as little waste as possible. O b. firms are able to push costs down below what resource suppliers desire. O c. firms produce output using no resources. O d. profitability is sought without concern for costs.
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