What Is Productive Efficiency

question 38

Multiple Choice

What is productive efficiency?

• A)a situation in which resources are allocated to their highest profit use
• B)a situation in which resources are allocated such that goods can be produced at their lowest possible average cost
• C)a situation in which resources are allocated such the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it
• D)a situation in which firms produce as much as possible

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Definitions:

Customer Service Duties

Responsibilities focused on assisting customers by answering questions, solving problems, and providing a satisfactory service experience.

Job Description

A formal document outlining the duties, responsibilities, required qualifications, and reporting relationships of a specific job.

Observers

Individuals or entities that watch, monitor, or record activities or data without directly participating.