productive efficiency
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单词 | productive efficiency |
释义 | productive efficiency![]() productive efficiencyan aspect of MARKET PERFORMANCE that denotes the efficiency of a market in producing current products at the lowest possible cost in the long run, using existing technology. Productive efficiency is achieved when output is produced in plants of optimal scale and when there is a long-run balance of market supply and demand. See Fig. 157 . See also MINIMUM EFFICIENT SCALE, TECHNOLOGICAL PROGRESSIVENESS, EXCESS CAPACITY, RATIONALIZATION. |
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