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Earn +20 ptsQ: What is efficiency and how is it calculated?
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How can the term business efficiency be explained?
In business efficiency is achieving the goal with least amount of resource consumption. Productivity and effectiveness are calculated by using an efficiency comparison.
How is the marginal cost calculated and what factors are considered in determining it?
Marginal cost is calculated by dividing the change in total cost by the change in quantity produced. Factors considered in determining marginal cost include variable costs, economies of scale, and production efficiency.
What is efficiency effectiveness?
Efficiency effectiveness can only be measured by results; cost efficiency, time efficiency, output efficiency, etc.
What is efficiency measured in?
Efficiency is measured in joules.
What is the efficiency wage model?
efficiency wage
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