What is Economic Efficiency

In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts:Allocative or Pareto efficiency: any changes made to assist one person would harm another.Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost.

How you will benefit

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

Chapter 1: Economic efficiency

Chapter 2: Economics

Chapter 3: Keynesian economics

Chapter 4: Microeconomics

Chapter 5: Neoclassical economics

Chapter 6: Perfect competition

Chapter 7: Pareto efficiency

Chapter 8: General equilibrium theory

Chapter 9: Market failure

Chapter 10: New Keynesian economics

Chapter 11: Economic globalization

Chapter 12: Production-possibility frontier

Chapter 13: Welfare economics

Chapter 14: Allocative efficiency

Chapter 15: Economic problem

Chapter 16: Productive efficiency

Chapter 17: Schools of economic thought

Chapter 18: Neoclassical synthesis

Chapter 19: New classical macroeconomics

Chapter 20: Economic growth

Chapter 21: Profit (economics)

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

(III) Real world examples for the usage of economic 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 Economic Efficiency.