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At the most basic level, allocative efficiency means that producers supply the quantity of each product that consumers demand. Only one of the productively efficient choices will be the allocative efficient choice for society as a whole. For example, in order to achieve allocative efficiency, a so...
This paper presents measures of technical (TE), economic (EE), and allocative (AE) efficiency for a sample of sixty peasant farmers in the Dajabon region of the Dominican Republic. Maximum likelihood techniques are used to estimate a Cobb-Douglas production frontier, which is then used to ...
The next alternative to improve water productivity at the farm level is through allocative efficiency improvements. In regions, where the farmers are confronted with a high marginal cost of using water, they are already allocating irrigation water to high-value crops, which generates higher income pe...
Define the price index Pj to be the minimum cost at j to construct a consumption bundle delivering a unit level of utility, i.e.,Pj≡∫01pω,jq˜ω,jdω,where q˜j=q˜ω,j:ω∈01 is the expenditure-minimizing consumption bundle Allocative efficiency and trade When evaluating the ...
Allocative efficiency means that the particular mix of goods a society produces represents the combination that society most desires. For example- often society has a preference for education. If that society is producing the quantity or level of education that society demands, t...
Our findings do not imply that a change in land tenure system is called for.doi:10.2307/1243717Gavian, SarahFafchamps, MarcelAmerican Agricultural Economics AssociationAmerican Journal of Agricultural EconomicsFafchamps, Marcel and Sarah Gavian, (1996). "Land Tenure and Allocative Efficiency in Niger,...
Efficiency in the allocation of input resources has a direct impact on the observed farm output level. Measuring production efficiency will be useful to determine the country's potential output by adopting improved technology and proper allocation of input (Zhu, 2000; Tauer, 2001; Rahman, 2003)....
Market failures strengthen economic efficiency by forcing unprofitable firms to close. True or false? Equilibrium in a monopolized market is efficient because the monopolist always produces where marginal cost equals marginal revenue. A monopolist maximizes profit...