Efficient resource allocation

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Jeremy S. 5.0 (1)

University of Bristol - BSc Mathematics and Economics

Maths and Economics teacher with 15 years experience in a high achieving city centre academy in Bristol.

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The videos below are from the YouTube channel Enhance Tuition. Subscribe to keep up to date with the latest videos.

Productive Efficiency

This video defines the term ‘productive efficiency’ and explains how to represent the concept of productive efficiency on two diagrams: the production possibilities curve (PPC) and the short-run average cost curve.

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Allocative Efficiency

This video defines the term ‘allocative efficiency’ and explains how to represent the concept of productive efficiency on two diagrams: the production possibilities curve (PPC) and the market equilibrium diagram.

Pareto Optimality

This video defines the term ‘pareto optimality’ and explains how to represent the concept of pareto optimality on the production possibilities curve.

Dynamic Efficiency

This video defines the term ‘dynamic efficiency’ and explains how to represent the concept of dynamic efficiency on a firm’s average cost curve.

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