If a firm produces its mix of output at the lowest possible cost,it is said to achieve production efficiency.

Name: If a firm produces its mix of output at the lowest possible cost,it is said to achieve production efficiency.
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Production efficiency is achieved when a firm produces the optimal mix of output at the lowest possible cost. This means that resources are being used in the most efficient way, resulting in maximum output for minimum cost.

If a Firm Produces Its Mix of Output at the Lowest