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  • 11-01-2022
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What is the definition of efficiency in econ?

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tanya222singh
tanya222singh tanya222singh
  • 11-01-2022

Answer:

Hey Friend.....

Explanation:

This is ur answer.....

Economic efficiency implies an economic state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency. When an economy is economically efficient, any changes made to assist one entity would harm another.

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