FACTOID # 85: The average woman in New Zealand doesn't give birth until she is nearly 30 years old.
 
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Encyclopedia > Efficiency
Look up efficiency in Wiktionary, the free dictionary.

Efficiency as a technical term may refer to: Wikipedia does not have an article with this exact name. ... Wiktionary (from wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 150 languages. ...


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X-efficiency - Wikipedia, the free encyclopedia (234 words)
In a market with perfect competition, there will in general be no x-inefficiency because if any firm is less efficient than the others it will not make sufficient profits to stay in business in the long term.
However, with other market forms such as monopoly it may be possible for x-inefficiency to persist, because the lack of competition makes it possible to use inefficient production techniques and still stay in business.
It doesn't take account of whether the inputs are the best ones to be using, or whether the outputs are the best ones to be producing, which is referred to as allocative efficiency.
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