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In order to achieve Economic efficiency the following need to occur: 1) Any product X is produced at the lowest cost. 2) The economy uses all the raw materials that in hand. Example: X,Y are produced by a,b. In efficient productivity, we use both a,b in a way that we cannot produce anymore X or Y with the a,b that had left. There are several measures of economic efficiency, including:
For applications of these principles see: DOCUMENTARY FILM S
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