e production possibilities

Q: What types of farming occur near Mississauga, Ontario? Why?

A: Cash crops like  oilseed and grain farming –– fruits and vegetables,  soybeans and corn – are the…

Q: Factors of production

A: The final goods and services served in the market for the consumers. There are some factors that use…

Q: What will be produced in economic and how it will be produced?

A: The economic questions arise because of the scarcity of resources and the unlimited wants. Economies…

Q: how do you deal with opportunity cost

A: Opportunity cost is the cost or value of the next best alternative which an individual foregoes to…

Q: what is micro economy?

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: (Collusion and Cartels) Use revenue and cost curves to illustrate and explain the sense in which a…

A: Hello. Since you have posted multiple questions and not specified which question needs to be solved,…

Q: hat initiatives are useful in improving profits?

A: Since businesses are experiencing different types of fundamental transformations due to…

Q: opportunity cost of producing a product from zero

A: Opportunity cost is the benefit that can be driven by not choosing the other alternative.

Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).