Answer to Question 1
Productive efficiency is an efficiency criterion that describes a situation in which goods and services are produced at the lowest possible cost. It does not imply allocative efficiency which is a criterion associated with producing goods and services that consumers value most. For example, a manufacturer may be able to produce typewriters at the lowest possible cost of 200, but this does not necessarily mean that consumers are willing to pay 200 for a typewriter.
Answer to Question 2
FALSE
Production efficiency.
Historian James Merrell notes several errors in Benjamin West’s famous 1771 painting, William Penn’s
Regular staff meetings increase the efficiency of the medical office staff.
Children and adolescents define themselves as they get older
Explain how it can be desirable from an intertemporal perspective for a country run a current ...
Explain the myogenic autoregulation of the glomerular filtration rate