[Solved] What Does Productive Efficiency Mean

Question 74
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What does productive efficiency mean?


A)A product is being produced at the lowest possible short-run average cost but not necessarily at the lowest long-run average costs.
B)A product is being produced at the lowest possible long-run average cost but not necessarily at the lowest short-run average costs.
C)A product is being produced at the lowest possible short- and long-run average costs.
D)A product is being produced at the lowest possible marginal costs.

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