Allocative Efficiency Occurs Where

question 181

Multiple Choice

Allocative efficiency occurs where:

• A) the price of a good is less than the marginal cost of producing it.
• B) the price of a good is greater than the marginal cost of producing it.
• C) the price of a good is equal to the marginal cost of producing it.
• D) the greatest quantity of output is available for sale.

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Definitions:

Jokes

A joke is a display of humour in which words are used within a specific and well-defined narrative structure to make people laugh.

Reality

Reality denotes the state of things as they actually exist, as opposed to an idealistic or notional idea of them.

Society

A community of individuals living together in a more or less ordered community, defining itself through culture and institutions.

Emotion Labor

Is emotion management that many people do as part of their job and for which they are paid.