Allocative Efficiency Occurs When the

question 137

Multiple Choice

Allocative efficiency occurs when the

• A) minimum of average total cost equals average revenue.
• B) minimum of average total cost equals marginal revenue.
• C) marginal cost equals the marginal benefit to society.
• D) marginal revenue equals marginal benefit to society.

---

Definitions:

Paraphrase

Rephrasing or rewriting text in one's own words while maintaining the original meaning.

Executive Dashboard

A visual display tool that provides executives with a comprehensive overview of key performance indicators and metrics at a glance.

Knowledge Management System

An IT-based system designed for organizing, storing, and retrieving knowledge, often in the form of documents, to improve understanding, collaboration, and decision-making within an organization.

Decimal Number

A number that contains a decimal point, representing a fraction of 10.