Question

Define productivity efficiency and allocative efficiency. What conditions must be met in order to achieve them?

Define productivity efficiency and allocative efficiency. What conditions must be met in order to achieve them?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Productive efficiency -

  • It is something which is worried about the most favourable method of the production of the goods at the minimal cost.
  • Productive efficiency achieved when the goods are produced in the most minimum price or the lowest average price.

Allocative efficiency -

  • It is something which is really concerned with the most favourable diffusion or to the distribution of the services as well as goods.
  • Allocative efficiency achieve when the price of the costumer spot on the services as well as the goods which are identical to the price of the whole product or goods have used the production.
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following conditions needs to occur for a market to achieve allocative efficiency? The...
Which of the following conditions needs to occur for a market to achieve allocative efficiency? The marginal cost of the last unit produced is greater than the marginal benefit of producing that unit. The sum of producer and consumer surplus is maximized. Producers' maximum willingness to equals consumers' minimum acceptable price for the last unit of output. The total revenue received by producers equals the total cost of production.
In the long run: firms in both monopolistic competition and competition achieve allocative efficiency but not...
In the long run: firms in both monopolistic competition and competition achieve allocative efficiency but not productive efficiency. only firms in a competitive market achieve both allocative and productive efficiency. only firms in monopolistic competition achieve both allocative and productive efficiency. neither competition nor monopolistic competition achieves allocative efficiency.
In order to initiate protein synthesis, what conditions must be met? i. The promoter in the...
In order to initiate protein synthesis, what conditions must be met? i. The promoter in the mRNA must be accessible ii. The Shine-Delgarno site in the mRNA must be accessible iii. The start codon in the mRNA must be accessible iv. The stop codon in the mRNA must be accessible Group of answer choices
To infer causality, three conditions must be met. One of them is that: Group of answer...
To infer causality, three conditions must be met. One of them is that: Group of answer choices X and Y occur at the same time. X is not related to Y. Confounding variables can be ruled out as causes. Manipulating one variable does not influence another variable.
1. Explain the following terms a)allocative efficiency and b) productive efficiency 2. Of the 4 markets...
1. Explain the following terms a)allocative efficiency and b) productive efficiency 2. Of the 4 markets discussed, which market structure can achieve allocative and productive efficiency in the long run 3. Which market structure can have both homogeneous and differentiated products 4. Describe the characteristics of a pure monopoly 5. What are the benefits of monopolistic competition? 6. Please explain how shut-down rule is applied. 7. Discuss the major barriers to entry into an industry 8. What is the meaning...
10% of WSU students go to football games. What conditions must be met to assume normality...
10% of WSU students go to football games. What conditions must be met to assume normality of p-hat? Say a sample of 500 students is conducted. What is the probability that more than 57 of them go to football games. Is 500 to big or too small?
In order for evolution by natural selection to occur, the following conditions have to be met:...
In order for evolution by natural selection to occur, the following conditions have to be met: 1. Genetic variability must exist within a population, 2. Traits are inherited by offspring from parents, and 3. Environmental conditions ___________________ a) cause changes in the DNA of organism b) allow new genes to flow into the population of organisms. c) must favor reproduction of individuals with certain traits. d) eliminate individuals from the population at random.
a) What are the 3 requirements that must be met in order for a table to...
a) What are the 3 requirements that must be met in order for a table to describe a probability distribution? Be specific. b) Determine whether the following table describes a probability distribution. If your answer is no, identify the requirement that is not   satisfied. Response P(x) E-mail 0.06 In person 0.55 Instant message 0.24 Text message 0.15
What criteria must be met in order for a person to be characterized as being unemployed...
What criteria must be met in order for a person to be characterized as being unemployed Have an example of someone who is structurally unemployed. You may give examples of someone you know who is out of job and can not find new job due to lack of skills.
What criteria must be met in order to consider a practice, evidence-based? Provide examples. Explain the...
What criteria must be met in order to consider a practice, evidence-based? Provide examples. Explain the role quality plays in evidence-based practice?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT