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Economics - Micro > Topic 4 - Production Costs and Revenues > Flashcards

Topic 4 - Production Costs and Revenues Flashcards

1
Q

What is meant by productivity?

A

How efficient a firm is - how much output can be produced with a given set of inputs

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2
Q

What is meant by labour productivity?

A

The amount a worker produces

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Economics - Micro (8 decks)

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