ladyalleta: Efficiency: the ratio of energy to output. In basic economics, there are price floors, meaning the lowest price something can possibly be. Example A) minimum wage. You cannot pay someone below minimum wage. (waiters have tips they can earn,
ladyalleta: Efficiency: the ratio of energy to output. In basic economics, there are price floors, meaning the lowest price something can possibly be. Example A) minimum wage. You cannot pay someone below minimum wage. (waiters have tips they can earn,