Question

When there is productive efficiency:

- Output is produced using the _____ resources possible to produce a good or service
- Output is produced at the _____ possible total cost per unit of production

Answer 1

Productive efficiency means producing using the fewest resources possible and at the lowest possible total cost per unit of production.

Step-by-step explanation:

Productive efficiency means producing without waste, so that the choice is on the production possibility frontier. This means that goods or services are produced using the fewest resources possible. Additionally, output is produced at the lowest possible total cost per unit of production.