What is Productive Efficiency

According to the theory of microeconomics, productive efficiency refers to a situation in which the economy or an economic system that is operating within the restrictions of the current industrial technology is unable to expand production of one good without sacrificing production of another good. In layman's words, the idea is depicted on a production possibility frontier (PPF), which is a curve in which every point on the curve represents a point of productive efficiency. There is a possibility that an equilibrium could be productively efficient without also being allocatively efficient. This means that it could lead to a distribution of products that does not maximize the welfare of the community.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Productive efficiency

Chapter 2: Microeconomics

Chapter 3: Growth accounting

Chapter 4: Economic efficiency

Chapter 5: Profit maximization

Chapter 6: Efficiency

Chapter 7: X-inefficiency

Chapter 8: Production-possibility frontier

Chapter 9: Production function

Chapter 10: Productivity

Chapter 11: Welfare economics

Chapter 12: Allocative efficiency

Chapter 13: Data envelopment analysis

Chapter 14: Returns to scale

Chapter 15: Total factor productivity

Chapter 16: Stochastic frontier analysis

Chapter 17: Production (economics)

Chapter 18: Productivity model

Chapter 19: Marginal product

Chapter 20: Michael James Farrell

Chapter 21: Robin Sickles

(II) Answering the public top questions about productive efficiency.

(III) Real world examples for the usage of productive efficiency in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Productive Efficiency.