Allocative Efficiency Occurs When

question 13

Multiple Choice

Allocative efficiency occurs when:

• A)marginal social utility equals marginal social cost.
• B)all industries are monopolized.
• C)all externalities are eliminated.
• D)marginal social cost equals the minimum of average social cost.
• E)marginal social cost equals average social cost, though not necessarily at the minimum of average social cost.

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Definitions:

Health Care System

An organized framework of health services and resources aimed at delivering health care to a population, including medical professionals, facilities, and policies.

Main Supporters

Primary individuals or groups that provide support, usually in the context of financial backing, endorsement, or advocacy for a cause or individual.

Health Care System

An organized network of institutions, resources, and people aimed at delivering health care services to meet the health needs of a target population.

Avoidable Social Causes

Factors within society that could potentially be changed or mitigated to prevent undesirable outcomes.