Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Get quick and reliable answers to your questions from a dedicated community of professionals on our platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

When a firm produces a specific output level at a higher cost than the necessary cost for that level of output, it is called?

Sagot :

abiolataiwo2015

When a firm produces a specific output level at a higher cost than the necessary cost for that level of output, it is called: x-inefficiency.

What is  x-inefficiency?

X-inefficiency can be defined as the process in which a company or an organization cost of production is higher.

A company or an organization can be classified as x Inefficiency when their cost of production or average cost of production is on the high side  and this may occur due to lack of competitors or lack of competition.

Therefore when a firm produces a specific output level at a higher cost than the necessary cost for that level of output, it is called x-inefficiency.

Learn more about x-inefficiency here:https://brainly.com/question/22716030

#SPJ1

We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.