Customer Service Chat
Get quote & make Payment
Difference between productive and allocative efficiency, Macroeconomics
Explain the difference between productive and allocative ( economic ) efficiency.
Explanation of productive efficiency, e.g. output at AC minimum
Define to the effect that this shows that all factors (fixed and variable) are being utilised to the utmost efficiency when average costs are at the lowest point
Definition of allocative efficiency, e.g. P = MC
Explanation that allocative efficiency means that welfare is maximised - the firm is producing the last possible unit since the market price means that there is a demand for it at that price
illustrating both concepts using a unit cost picture (PCM)
Posted Date: 7/11/2013 5:23:49 AM | Location : United States
Ask an Expert
Difference between productive and allocative efficiency, Assignment Help, Ask Question on Difference between productive and allocative efficiency, Get Answer, Expert's Help, Difference between productive and allocative efficiency Discussions
Write discussion on Difference between productive and allocative efficiency
Your posts are moderated
Write your message here..
Explain the long-run phillips curve, Q. Explain the long-run Phillips curve...
Q. Explain the long-run Phillips curve? The long-run Phillips curve The augmented Phillips curve has an important consequence: the long-run Phillips curve must be vertical
FREE TRADE AND PROTECTIONISM, WHY IS INTERNATIONAL TRADE IMPORTANT IN SOUTH...
WHY IS INTERNATIONAL TRADE IMPORTANT IN SOUTH AFRICA
Montary policy, Examine the efficiency of quanttitative credit control inst...
Examine the efficiency of quanttitative credit control instrument
What is difference between explicit cost and implicit cost, What are the di...
What are the difference between explicit cost and implicit cost? Both are concerns to Opportunity Cost and Decisions: An explicit cost is a cost which involves essentially
Estimate the length of pipe, Engineers sometimes add chlorine to pipes to d...
Engineers sometimes add chlorine to pipes to disinfect water. It is desired to achieve four logs of kill. This means that the effluent concentration of microorganisms is 10 -4 tim
Two-period model, Suppose that a household in a two-period model has incom...
Suppose that a household in a two-period model has income of $30,000 in period 1 and $25,000 in period 2, and the interest rate is 75 percent. Assume that the price of the good is
Illustrate an example of consumer price index, Illustrate an example of Con...
Illustrate an example of Consumer Price Index For instance, if we spend twice as much on apples as on pears, apples would have twice the weight in basket. The precise details o
Find the nash equilibria, Two people are engaged in a joint project. If eac...
Two people are engaged in a joint project. If each person i puts in the effort x i , the outcome of the project is worth f ( x 1, x 2). Each person's effort level x i is a
Illustrates about the terms of elasticity, Illustrates about the terms of e...
Illustrates about the terms of elasticity? • Definition of elasticity a. Price elasticity of demand b. Income elasticity of demand and c. Price elasticity of supply
Evaluate nominal wages, Q. Evaluate Nominal wages? Nominal wages ...
Q. Evaluate Nominal wages? Nominal wages W = (W/P).P The nominal wage is equal to the real wage times the price level. Because the real wag
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Terms & Conditions
Copyright by ExpertsMind IT Educational Pvt. Ltd.