204k views
2 votes
What is the meaning of efficiency in production​

User Epic Eric
by
7.7k points

1 Answer

0 votes

Answer:

Productive efficiency is a situation in which the economy could not produce any more of one good without sacrificing production of another good. In other words, productive efficiency occurs when a good or a service is produced at the lowest possible cost.

Step-by-step explanation:

User Clint Warner
by
7.9k points

No related questions found