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  2. Production–possibility frontier - Wikipedia

    en.wikipedia.org/wiki/Production–possibility...

    In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.

  3. Allocative efficiency - Wikipedia

    en.wikipedia.org/wiki/Allocative_efficiency

    Allocative efficiency is a state of the economy in which production is aligned with the preferences of consumers and producers; in particular, the set of outputs is chosen so as to maximize the social welfare of society. [1] This is achieved if every produced good or service has a marginal benefit equal to the marginal cost of production.

  4. Economic efficiency - Wikipedia

    en.wikipedia.org/wiki/Economic_efficiency

    When drawing diagrams for businesses, allocative efficiency is satisfied if output is produced at the point where marginal cost is equal to average revenue. This is the case for the long-run equilibrium of perfect competition. Productive efficiency occurs when units of goods are being supplied at the lowest possible average total cost.

  5. Productive efficiency - Wikipedia

    en.wikipedia.org/wiki/Productive_efficiency

    Productive efficiency is an aspect of economic efficiency that focuses on how to maximize output of a chosen product portfolio, without concern for whether your product portfolio is making goods in the right proportion; in misguided application, it will aid in manufacturing the wrong basket of outputs faster and cheaper than ever before.

  6. Production function - Wikipedia

    en.wikipedia.org/wiki/Production_function

    The production function is central to the marginalist focus of neoclassical economics, its definition of efficiency as allocative efficiency, its analysis of how market prices can govern the achievement of allocative efficiency in a decentralized economy, and an analysis of the distribution of income, which attributes factor income to the ...

  7. Ex-FBI informant accused of lying about Bidens agrees to ...

    www.aol.com/ex-fbi-informant-accused-lying...

    A former FBI informant accused of lying about President Joe Biden and his son Hunter Biden’s alleged business dealings with a Ukrainian energy company has agreed to plead guilty to federal ...

  8. Static efficiency - Wikipedia

    en.wikipedia.org/wiki/Static_efficiency

    Allocative efficiency takes into account the preferences of the consumers and the efficient allocation of resources. Graphically this point is reached when price is equal to marginal cost. At this point there is no deadweight loss, and the social surplus (consumer surplus + producer surplus) is maximized.

  9. Orange Bowl winner vs. Cotton Bowl winner, 7:30 p.m. (ESPN) We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an ...