Explain what is meants by product mix efficiency

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Reference no: EM131246744

Explain what is meants by product mix efficiency and discuss the condiitions under which the market will give us product mix efficiency. In your explanation of product mix efficiency, you should discuss what slopes are relevant for product mix efficiency and how they are relevant. While I expect to see the equation for product mix efficiency as part of your answer, you are also expected to explain the intuition behind the equation to demostrate you understand the economics. (Note: this is often refered to as pareto efficiency in a production economy).

Reference no: EM131246744

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