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How is Efficiency Determined?

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Does anyone know what variables actually make up the efficiency % that goes towards a weapons efficiency.

Looking at it from my perspective it seems like a combination of gun decay, gun dps and dpp. Hopefully someone can enlighten me on this topic.

EDIT: And how is efficiency related to loot value, I believe MA said it makes up 7% of the loot value but I'm not sure how that would be factored in, is it just the higher the stat the higher the loot pool contribution?

submitted by /u/damonroe
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