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Pearson Edexcel IAL Economics 3.3.3.1a concepts of: • allocative efficie

Practise explaining allocative, productive and dynamic efficiency and linking inefficiency to market structure and extract evidence.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
A2

Exam points

  • explain dynamic efficiency from an extract by linking investment or innovation to long-run gains
  • compare allocative, productive and X-inefficiency using price, marginal cost and average cost

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