Under Pure Competition, in the Long Run

question 176

Multiple Choice

Under pure competition, in the long run

• A) neither allocative efficiency nor productive efficiency is achieved.
• B) both allocative efficiency and productive efficiency are achieved.
• C) productive efficiency is achieved, but allocative efficiency is not.
• D) allocative efficiency is achieved, but productive efficiency is not.

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Definitions:

Neurological function

The operations and activities of the nervous system, including cognitive processes and physical responses.

Neonate

Stage of life from birth to 1 month of age.

Sleep requirements

refers to the amount of sleep needed to function optimally, which can vary by age, lifestyle, and health status.

Alert

A state in which an individual is fully aware of and responsive to their environment, often used as an assessment criterion in healthcare.