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MMLU-Pro / 7325 / In a competitive market economy, the firms which do the pro-ducingare those…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

In a competitive market economy, the firms which do the pro-ducingare those which employ the economically most efficienttechnique of production. What determines themost efficient technique?

category

economics

options

  1. Historical patterns of production and cultural practices
  2. Demand and supply
  3. Available technology and resource prices
  4. International trade agreements
  5. Government regulations
  6. The size and influence of the firm
  7. Consumer preferences
  8. Marketing strategies and advertising
  9. The country's overall level of education
  10. Environmental factors and climate change

src

stemez-Economics

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Official source

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