What is Productive Efficiency
According to the theory of microeconomics, productive efficiency refers to a situation in which the economy or an economic system that is operating within the restrictions of the current industrial technology is unable to expand production of one good without sacrificing production of another good. In layman's words, the idea is depicted on a production possibility frontier (PPF), which is a curve in which every point on the curve represents a point of productive efficiency. There is a possibility that an equilibrium could be productively efficient without also being allocatively efficient. This means that it could lead to a distribution of products that does not maximize the welfare of the community.
How you will benefit
(I) Insights, and validations about the following topics:
Chapter 1: Productive efficiency
Chapter 2: Microeconomics
Chapter 3: Growth accounting
Chapter 4: Economic efficiency
Chapter 5: Profit maximization
Chapter 6: Efficiency
Chapter 7: X-inefficiency
Chapter 8: Production-possibility frontier
Chapter 9: Production function
Chapter 10: Productivity
Chapter 11: Welfare economics
Chapter 12: Allocative efficiency
Chapter 13: Data envelopment analysis
Chapter 14: Returns to scale
Chapter 15: Total factor productivity
Chapter 16: Stochastic frontier analysis
Chapter 17: Production (economics)
Chapter 18: Productivity model
Chapter 19: Marginal product
Chapter 20: Michael James Farrell
Chapter 21: Robin Sickles
(II) Answering the public top questions about productive efficiency.
(III) Real world examples for the usage of productive efficiency in many fields.
Who this book is for
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Productive Efficiency.
