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  • 22-04-2022
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what describes an efficient outcome

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neeta91
neeta91 neeta91
  • 22-04-2022

Answer:

productively efficient outcome uses the least cost. input mix required to produce a given output of any good or service. This concept goes beyond technical efficiency, which is the lowest volume of inputs per unit output for each possible combination of inputs, as it takes into account the prices of the inputs.

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