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In the simple production model developed in lectures, a production technology A is said to be dominated by another production technology B, if: Select one:
In the simple production model developed in lectures, a production technology A is said to be dominatedby another production technology B, if:
Select one:
production technology A produces less output than production technology B.
production technology A will generate less revenue for the firm than production technology B.
production technology A costs less than production technology B.
production technology A uses more of both of the inputs than production technology B.
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