Casemiro ignores offer from United
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Deportes Cuatro reports that Casemiro has received a very favorable financial offer from United.
Real Madrid midfielder Casemiro has received an offer from Manchester United.Just... → Continue reading
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Aspects of efficiency
There are various aspects to the leanness of allocation.for example,原料 OfwoodBuy 3 tons of chips and from outsideEnergyPut in 500 calories and 1 tonpaperSuppose there is a technique to generate.At this time,MedicineIf, with a constant amount of other inputs such as factory equipment and labor, and even if you put 3 kilocalories of purchased energy into 1,000 tons of wood chips, you can still make only 1 ton of paper, that method is obviously wasteful. , Inefficient.On the other hand, although it consumes 2,000 kcal of energy, the technique of producing 1.5 ton of paper just by adding 1 tons of wood chips is not inefficient.This is because it may be the technology that uses the least amount of energy, provided that only 1.5 tons of wood chips are used.Considering that there is a continuous combination of the minimum energy required to make 1 ton of paper and the input amount of wood chips, the trajectory connecting them isIsoquantity curveCalled.The points on the equal force curve represent efficient production, and the points located on the upper right of it represent inefficient production if the production volume is the same.This shows one aspect of efficiency.
Next, if you put in wood and energy, instead of paperpencilCan also be made.When the amount of wood and energy that can be put in is limited, if you try to make extra pencils, you have to sacrifice paper production.Between the quantity of paper and pencils that can be produced to the maximum under the constraints of constant wood and energy input,Production-possibility frontierThe relationship called is established.If production is on the production-possibility frontier, production is efficient in the sense that if one wants to increase the production of one good, one must decrease the production of another.If production is not on the production-possibility frontier, there is waste in resource utilization.There is to eliminate that wasteresourceAnd another resourceMarginal rate of substitutionBut need to be equal across all uses of the resource.
However, even if production is on the production-possibility frontier, the goods produced areconsumerIf it is not produced in the quantity desired, there is room to increase consumer satisfaction by changing the destination of limited resources.like thisPareto optimalA state (a state in which no one's satisfaction can be raised without lowering someone's satisfaction) is a consumer's condition.PreferenceMarginal rate of substitution between goods in is required to be equal across all consumers.For all goods and resourcesMarketIf exists and holds, then in equilibriumResource allocationAlways holds the proposition that Pareto is optimal (Welfare economicsBasic theorem).However, there are innumerable states of Pareto optimal distribution, and the differences in distribution correspond to them.