If the four firms listed below represent the entire auto market, how many cars wi supplied at a price of $20,000? Smith Hayes Jones Rogers $20,000 20 40 12 $22,000 25 50 15 36 $24,000 30 20 40 102 126 60

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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).