What is economic efficiency, Microeconomics

Assignment Help:

Q. What is Economic efficiency?

Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is that all resources will be put to their highest value uses.


Related Discussions:- What is economic efficiency

Determine the rule of divergence in general, Determine The Rule of Divergen...

Determine The Rule of Divergence in General Though even if attention is confined to non-communist-ruled economies there still has been huge divergence in relative output per w

Economies of common services, Economies of Common Services: Through th...

Economies of Common Services: Through the concentration of firms in a particular industry in a given geographical location, the firms may enjoy certain commonservices.These

Non-tradable, Non-Tradable:Some products can't be transported over long dis...

Non-Tradable:Some products can't be transported over long distances or otherwise sold to consumers from far-off locations. These products (including some goods as well as most serv

Arc elasticity of demand, Arc Elasticity of Demand - Arc elasticity cal...

Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices  - The formula of it is: *  Arc Elasticity of Demand: An Example

Demand curves, draw demand curve for a-phone explain how the graph, price ,...

draw demand curve for a-phone explain how the graph, price ,and quantity demand will change if there is an overall increase in income.

Lemon market question, buyers cannot tell whether any given car is a lemon....

buyers cannot tell whether any given car is a lemon. The percent of all cars that are lemons is theta. How much is theta when all cars offered are sold?

Determine the setting a minimum wage for under-eighteen, Show the possible ...

Show the possible outcome of setting a minimum wage for under-eighteens. Explaining and illustration of minimum wage - clearly set above market equilibrium outlining res

Economic analysis of asset replacements, An important aspect of municipal f...

An important aspect of municipal finance involves capital budgeting and resource allocation.  In some cases, resource allocations involve expenditures that are not directly revenue

Cost, schedules for cost

schedules for cost

Determine the industrial core of world economy, Determine the industrial co...

Determine the industrial core of world economy The industrial core of world economy saw its level of material productivity and standards of living explode in the 19th and 20th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd