What two types of efficiencies are achieved at the point of total productive efficiency?
A)cost and profit efficiency
B)technical and allocative efficiency
C)sales and profit efficiency
D)maintenance and profit efficiency

Question

Quizplus · Accepted Answer

Total productive efficiency occurs when a firm produces at the lowest point on its average total cost curve, which means it has achieved both technical efficiency (using the best available technology and inputs) and allocative efficiency (producing the combination of goods and services that consumers value most highly). Therefore, the correct answer is B.

What Two Types of Efficiencies Are Achieved at the Point