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    Economic efficiency

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    If a manager that takes over a furniture factory and realizes immediately that it was throwing away at least $100,000 a year worth of wood scrap and within a few weeks he sets up a task force of managers and workers to deal with the problem. Within a few months they reduced the amount of scrap to $7,000 worth per year. Was this necessarily an economically efficient move? Why or why not?

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    Solution Summary

    This discusses the way to have economic efficiency in the organization