The efficiency frontier has a convex shape because of
A. a high-cost structure.
B. diminishing returns.
C. a significantly low product value.
D. low production costs.
E. high profit growth.
Answer: B. diminishing returns
A. a high-cost structure.
B. diminishing returns.
C. a significantly low product value.
D. low production costs.
E. high profit growth.
Answer: B. diminishing returns