Business, 06.04.2020 23:18, lj2754

What is allocative efficiency?

A. It refers to a situation in which resources are allocated such the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it.

B. It refers to a situation in which resources are allocated to their highest profit use.

C. It refers to a situation in which resources are allocated fairly to all consumers in a society.

D. It refers to a situation in which resources are allocated such that goods can be produced at their lowest possible average cost.

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What is allocative efficiency?

A. It refers to a situation in which resources are alloca...