Allocative Efficiency Occurs in Markets When _____

question 14

Multiple Choice

Allocative efficiency occurs in markets when _____

• A)the marginal benefit that consumers attach to the last unit purchased equals the opportunity cost of the resources employed to produce that unit.
• B)the marginal benefit that consumers attach to the last unit purchased exceeds the opportunity cost of the resources employed to produce that unit.
• C)goods are produced at the minimum of average total cost.
• D)goods are distributed evenly among consumers.
• E)government establishes price ceilings below the market price.

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