Which of the Following Describes a Difference Between Allocative Efficiency

question 226

Multiple Choice

Which of the following describes a difference between allocative efficiency and productive efficiency in a perfectly competitive market?

• A)Allocative efficiency is achieved only in the long run. Productive efficiency is achieved only in the short run.
• B)Allocative efficiency is achieved only in the long run. Productive efficiency is achieved in the short run and the long run.
• C)Allocative efficiency is achieved only in the short run. Productive efficiency is achieved only in the long run.
• D)Allocative efficiency is achieved in the short run and the long run. Productive efficiency is achieved only in the long run.

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Definitions:

Countercurrent Exchange

A mechanism whereby fluids flow in opposite directions to facilitate exchange of heat, gases, or other substances.

Fish Respiration

The process by which fish exchange gases with their environment, primarily through gills, to obtain oxygen and expel carbon dioxide.

Bronchi

The main passageways into the lungs, which branch from the trachea and further divide into smaller bronchioles.

Intercostal Muscles

Muscles located between the ribs that play a key role in the respiratory process by facilitating the expansion and contraction of the chest cavity.