Y2 11) Business Efficiency - Allocative, Productive, Dynamic and X Efficiency

Y2 11) Business Efficiency - Allocative, Productive, Dynamic and X Efficiency. An understanding of the 4 efficiencies that make up economic efficiency. Business Efficiency - Allocative, Productive, Dynamic and X Efficiency
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Merci a toi j'ai reussi a craft des livres efficiency 5

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I have been watching your previous videos on various topics and honestly they are plainly explained and were amazing. But please would make some more videos on how patent can protect supernormal profits of monopoly. I will highly appropriate that.👍👍💪

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it creates barriers to entry as other firms cannot produce the product, and therefore prevents the supernormal profit being competed away by the other firms

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[@armaanmehfuz8526]

Productive Efficiency of FIRM u showed But what about Productive Efficiency of the whole economy ?

[@crucify9631]

demonstrated by being on the line of the PPF curve

[@sanskrutir7792]

king

[@user-ow7iq3qw9i]

I have a question. Are x-efficiency and x-inefficiency same? Do both of them mean the situation is inefficient?

[@prakharvermaT1nO]

As he explained, x-efficiency means that the firm minimizes waste by producing on Average Cost Curve, no extra cost than needed. However, x-inefficiency is when the firm is not producing on the AC curve and is above it or away from it. The difference in height between x-INefficient production and the point vertically down till the AC curve is the x-inefficiency.

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Did you pass

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[@radheypatel9622]

So you can't be allocative efficient and productively efficient at the same time, right?

[@ruxiist]

You can in perfect competition

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@@ruxiist in the long run

[@ruxiist]

@@issavibe5438 exactly