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Economic efficiency
If a manager that takes over a furniture factory and realizes immediately that it was throwing away at least $100,000 a year worth of wood scrap and within a few weeks he sets up a task force of managers and workers to deal with the problem. Within a few months they reduced the amount of scrap to $7,000 worth per year. Was this necessarily an economically efficient move? Why or why not?
By OTA: Rahul Jain, MBA, ACS
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4721 - Category: Economics > Microeconomics
Subject: Production and Cost Analysis
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