Allocative efficiency and production efficiency
[DOC File]PRODUCTIVE AND ALLOCATIVE EFFICIENCY - Weebly
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If firms are producing on their production possibilities boundary, the they are producing efficiently because every point on the production possibilities boundary is efficient. Is there some point on the PPB that is better than others. This brings us to the concept of allocative efficiency. Allocation of production among the firms in the industry.
[DOC File]MEASURING PRODUCTIVE EFFICIENCY OF WATER POLLUTING ...
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Measuring Dual Technical Efficiency, Dual Allocative Efficiency and Dual Overall Productive Efficiency in Price Space. REFERENCES Aigner, D. and S. Chu, 1968, On estimating the industry production function, American Economic Review, 58, 826-839.
[DOC File]CHAPTER OVERVIEW
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C. Full production implies two kinds of efficiency: 1. Allocative efficiency means that resources are used for producing the combination of goods and services most wanted by society—for example, producing compact discs instead of long-playing records with productive resources or computers with word processors rather than manual typewriters. 2.
[DOC File]Division of Economics, University of Natal, Durban
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Economic efficiency: allocative efficiency and technical/ X-efficiency. Allocative efficiency: when limited resources of a country are allocated in accordance with wishes of consumers, an “optimal mix” of commodities is produced. 3 conditions to be met: Condition 1. Production activities must be Pareto-optimal, i.e. it should not be ...
[DOCX File]On Efficiency and effectiveness: some definitions
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Allocative efficiency. A measure of how well the available resources are allocated to production that meets the preferences of the population. Measured as a change in net benefits (broadly defined). The term allocative efficiency is sometimes defined so broadly as to equate it with the concept of overall economic efficiency.
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