The term productive efficiency refers to
A)any short-run equilibrium position of a competitive firm.
B)the production of the product mix most desired by consumers.
C)the production of a good at the lowest average total cost.
D)fulfilling the condition P = MC.

Question

Quizplus · Accepted Answer

Productive efficiency occurs when a good is produced at the lowest possible cost, which means producing goods at the lowest average total cost.

The Term Productive Efficiency Refers to