What is the term for the point at which technical and allocative efficiency are achieved?
A)input trade-off efficiency
B)productivity
C)total productive efficiency
D)financial productivity efficiency

Question

Quizplus · Accepted Answer

The term for the point at which technical and allocative efficiency are achieved is known as total productive efficiency. This means that the firm is producing goods and services at the lowest possible cost (technical efficiency) and with the right mix of inputs to meet consumer demand (allocative efficiency).

What Is the Term for the Point at Which Technical