The output of productive efficiency occurs when a business in a given market or industry reaches the lowest point of its average cost curve implying an efficient use of scarce resources and a high level of factor productivity.
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Essential A Level Economics: Year 2 (Micro) - Market Efficiency
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Essential A Level Economics: Year 2 (Micro) - Market Efficiency
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Efficiency Advisor (Theory of the Firm)
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Efficiency Advisor (Theory of the Firm)
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