单选题
Which of the following statements is most accurate? A method of
production is economic efficiency when:
A. It uses the most advanced science and technology.
B. The cost of fund capital is as low as possibie.
C. The cost of producing a given level of output is as low as
possible.
【正确答案】
C
【答案解析】Economic efficiency refers to producing a given output at the lowest possible cost. Technological efficiency refers to using the least amount of specific inputs to produce a given output.