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Of the three pizza-making technologies discussed in relation to the production function, the human technology (i.e.,...

Of the three pizza-making technologies discussed in relation to the production function, the human technology (i.e., Pali the Pizza- maker) appeared to be the least efficient in terms of total factor productivity (TFP) and the frozen pizza production technology appeared to most efficient in terms of TFP. Identify a limitation of using TFP as a measure for evaluating alternative production processes.

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Rahul Sunny answered 1 year ago
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