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X-inefficiency refers to the situation in which:

insherro

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7 years ago

X-inefficiency refers to the situation in which:

X-inefficiency refers to the situation in which:
A) highly competitive firms have less incentive to minimize their costs of production than other firms because the highly competitive firms have almost no chance to earn above-average profits.
B) firms are unable to minimize their costs of production because there is no potential for input substitution.
C) firms that use labor-intensive production methods tend to be less efficient than firms that use capital-intensive production methods.
D) firms with market power have less incentive to minimize their costs of production than more competitive firms.

Textbook

Economics for Managers

Edition: 3^rd

Author: Farnham

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University of Ottawa - Economics for Managers

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insherro Author

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7 years ago

Good timing, thanks!

patod1

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Yesterday

Thanks

logbi

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Thanks

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