Allocative Efficiency Refers to a Situation Where

question 83

Multiple Choice

Allocative efficiency refers to a situation where

• A)opportunity costs are equal for all goods.
• B)we cannot produce more of any one good without giving up some other good.
• C)goods and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit.
• D)opportunity cost is zero for all goods.
• E)marginal benefit is maximized.

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