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  • 08-05-2019
  • Business
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what is the meaning of efficiency in production​

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aprilwallace774
aprilwallace774 aprilwallace774
  • 08-05-2019

Answer:

Productive efficiency is a situation in which the economy could not produce any more of one good without sacrificing production of another good. In other words, productive efficiency occurs when a good or a service is produced at the lowest possible cost.

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