QuestionJune 2, 2025

Which of the following statements best describes the relationship between efficiency goals and managing costs? As we become more efficient the cost per unit of output goes down As we become more efficient the price for each input goes down As we become more efficient the quantity of outputs we produce always goes up As we become more efficient we can get by with less sleep each night

Which of the following statements best describes the relationship between efficiency goals and managing costs? As we become more efficient the cost per unit of output goes down As we become more efficient the price for each input goes down As we become more efficient the quantity of outputs we produce always goes up As we become more efficient we can get by with less sleep each night
Which of the following statements best describes the relationship between efficiency goals
and managing costs?
As we become more efficient the cost per unit of output goes down
As we become more efficient the price for each input goes down
As we become more efficient the quantity of outputs we produce always goes up
As we become more efficient we can get by with less sleep each night

Solution
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Answer

As we become more efficient the cost per unit of output goes down Explanation 1. Identify the relationship between efficiency and cost Efficiency typically means producing more output with the same or fewer inputs, leading to reduced costs per unit.

Explanation

1. Identify the relationship between efficiency and cost<br /> Efficiency typically means producing more output with the same or fewer inputs, leading to reduced costs per unit.
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