The Term Allocative Efficiency Refers to

question 8

Multiple Choice

The term allocative efficiency refers to

• A)the level of output where MC = AVC
• B)the equality between MR and MC
• C)the production of those goods and services most valued by consumers
• D)the point where marginal revenue equals average total cost
• E)the production of a good up to the point where AFC = 0

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Definitions:

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution to a problem.

Idea Duplications

The process of creating replicas or copies of an original idea.

Evaluative Input

Feedback or information received that is assessed or judged, typically used for improvement or development purposes.

Graham Wallas

A social psychologist and educationalist who proposed one of the first models of the creative process in the early 20th century.