Define productivity efficiency and allocative efficiency

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Reference no: EM132334906

Question: Has to be in apa format and each question must be 200 words, including references from 3 different macroeconomic books, one being Macroeconomics 11th ed by William a. mceachern. including a separate page for the references.

- Explain why the marginal cost of production must increased if the marginal product of the marginal resource is decreasing.

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

Reference no: EM132334906

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