With Allocative Efficiency

question 25

Multiple Choice

With allocative efficiency:

• A)the state of technology, or methods used to produce output, do not change.
• B)the available supplies of factors of production are fixed in both quantity and quality.
• C)there is production of any particular mix of goods and services in the least costly way.
• D)there is production of that particular mix of goods and services most wanted by society.

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