The efficiency of any competitive economy, or indeed of any sector within the economy, can be estimated simply as the ratio
between the average cost of the production inputs - capital, labor and land - per unit and the average output price per unit. That is
A = average cost of a unit of inputs /average price of a unit of output
More efficient economies produce more output per unit of input.Since the value of payments to inputs has to equal the value of
outputs, in more efficient economies output prices are low relative to input prices.
该句中,in more efficient economies output prices are low relative to input prices.