Allocative Efficiency Is a Property of the Behaviour of

question 58

Multiple Choice

Allocative efficiency is a property of the behaviour of

• A) perfectly- competitive firms.
• B) monopolies.
• C) all firms in an industry.
• D) the overall economy.
• E) individual firms.

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Definitions:

Faith

Belief, trust, and obedience to a religious deity.

Mere Belief

A conviction held without the support of evidence or rational justification.

Twenty-First Century

The current century, spanning from the year 2001 to 2100, characterized by rapid technological advancement and globalization.

Confined

Restricted in space or area; being in a situation that limits freedom of movement or action.