Determine economically efficient move

Assignment Help Managerial Economics

Reference no: EM1371817

Business Week, in an article dealing with management, write, "When he took over furniture factory three years ago...[the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap. Within a few weeks, he set up a task force of managers to deal with the problem. And within a few months, they reduced the amount of scrap to $7000 worth [per year]." Was this necessarily an economically efficient move?

Reference no: EM1371817

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