https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp APR Revision en-us 2022-03-01 05:07:42 UTC 2025-12-26 06:10:26 UTC hello@padlet.com maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070824318 the optimal use of scarce resources to produce the largest possible output]]> 2022-03-01 05:12:46 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070824318 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070825681 where a firm operates at the minimum of its average cost curve (MC=AC) or where a whole economy is operating on its PPC

]]> 2022-03-01 05:14:09 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070825681 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070826517 where it describes the extent to which the allocation of resources in an economy matches consumer preferences (Price is equal to marginal cost)]]> 2022-03-01 05:15:02 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070826517 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070827277 the best allocation of resources possible in given situations]]> 2022-03-01 05:15:47 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070827277 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070828999 this situation existed when its not possible to reallocate resources to make someone better off without making someone else worse off]]> 2022-03-01 05:17:28 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070828999 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070830955 the greater efficiency that can result from improvements in technical or productive efficiency over a period of time]]> 2022-03-01 05:19:26 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070830955 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070834127 optimum resource allocation is where both productive and allocative efficiency exists]]> 2022-03-01 05:23:08 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070834127 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070835513 all resources are used to their maximum productive potential so there is no spare capacity]]> 2022-03-01 05:24:44 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070835513 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070837282 helps keep the price down]]> 2022-03-01 05:26:38 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070837282 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070838265 maximum social welfare and maximum utility]]> 2022-03-01 05:27:47 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070838265 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070838947 it occurs on the PPF so there will be opportunity costs ]]> 2022-03-01 05:28:40 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070838947 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070839674 might lead to lower costs of production in the future or creations of new products]]> 2022-03-01 05:29:32 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070839674 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070840529 affected by short run factors such as demand and interest rates]]> 2022-03-01 05:30:32 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070840529 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070841385 leads to falling long run average costs]]> 2022-03-01 05:31:37 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070841385 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070843510 short run costs may be increased to make long run cost falls]]> 2022-03-01 05:34:00 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070843510 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070846318 a firm produces the maximum output possible from given resources]]> 2022-03-01 05:36:00 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070846318 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070848743 a firm uses the most appropriate combination of inputs of factors of production given the relative cost of those factors]]> 2022-03-01 05:37:08 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070848743 maisarahrazalimin2021 https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070852016 productive and allocative efficiency are concerned with the allocation or scarce resources at a moment in time but dynamic efficiency are concerned with the allocation of scarce resources over a period of time]]> 2022-03-01 05:40:38 UTC https://padlet.com/maisarahrazalimin2021/ebdzj4u3nqv5knp/wish/2070852016