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Which of the following is not a constraint in achieving technological and economic efficiency? a. State of technology b. Lack of information c. Distribution of income d. Market competition

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter2: Economic Systems And The American Economy

Section: Chapter Questions

Problem 17AA

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Concept explainers

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).

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Which of the following is not a constraint in achieving technological and economic efficiency? a. State of technology b. Lack of information c. Distribution of income d. Market competition

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