Suppose you own a small deposit of copper and you plan to completely mine the copper this year and next year. The marginal benefit (inverse demand) of copper mining is p= 10 – 0.5q Where q is the quantity extracted. The marginal cost (supply) of mining copper is p = 3

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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).