X-Inefficiency: Unlocking the Secrets of X-Inefficiency, Your Guide to a More Efficient Economy

By Fouad Sabry

What is X-Inefficiency

The term "X-inefficiency" is a notion that is utilized in the field of economics to describe situations in which businesses have internal inefficiency, which ultimately leads to greater production costs than are necessary for a specific output. This inefficiency is the consequence of a number of causes, including inefficient production processes, outdated technology, poor management, and a lack of competition, which ultimately leads to reduced profitability and higher pricing for customers. Harvey Leibenstein is the one who first presented the idea of X-inefficiency.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: X-inefficiency

Chapter 2: Economies of scale

Chapter 3: Microeconomics

Chapter 4: Monopoly

Chapter 5: Oligopoly

Chapter 6: Perfect competition

Chapter 7: Index of economics articles

Chapter 8: Profit maximization

Chapter 9: Yield (finance)

Chapter 10: Efficiency

Chapter 11: Marginal cost

Chapter 12: Production-possibility frontier

Chapter 13: Production function

Chapter 14: Allocative efficiency

Chapter 15: Managerial economics

Chapter 16: Isoquant

Chapter 17: Productive efficiency

Chapter 18: Stochastic frontier analysis

Chapter 19: Production (economics)

Chapter 20: Profit (economics)

Chapter 21: Monopoly price

(II) Answering the public top questions about x-inefficiency.

(III) Real world examples for the usage of x-inefficiency in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of X-Inefficiency.

• Language: English
• Publisher: One Billion Knowledgeable
• Release date: Feb 5, 2024

Book preview

Chapter 1: X-inefficiency

X-inefficiency is a term used in economics to describe situations in which enterprises have internal inefficiency, resulting in greater production costs than necessary for a given output. This inefficiency is the consequence of many reasons, including obsolete technology, inefficient industrial methods, bad management, and a lack of competition, resulting in reduced profitability and higher consumer costs. Harvey Leibenstein first proposed the idea of X-inefficiency.

X-Inefficiency is the gap between the potential and actual cost. In normal circumstances, a company might have an average cost curve at potential AC, but its actual average costs are greater owing to