True of the efficiency frontier

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Which of the following statements is true of the efficiency frontier?

A) It is always concave in shape because of diminishing returns.

B) To maximize its profitability, a firm should avoid a position that lies on the efficiency frontier.

C) Positions inside the frontier are more efficient than the positions that are located on the frontier.

D) Not all positions on the efficiency frontier are viable.

Reference no: EM13780291

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