Allocative Efficiency Can Be Defined as

question 158

Multiple Choice

Allocative efficiency can be defined as

• A)all non-value activities performed with minimal quantities needed to produce the given outputs.
• B)elimination of all non-value-added activities.
• C)input prices determining the relative proportions of each input that should be used.
• D)input prices determining the relative proportions of each output that should be produced.

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Definitions:

Employment Discrimination

Unfair treatment of employees or job applicants based on personal attributes such as race, gender, age, or sexual orientation, rather than their qualifications or performance.

Nonmonetary Attractiveness

The appeal of something based on non-financial factors, such as location, reputation, or quality of life.

Supply of Low-skill Workers

The availability of workers without specialized training or high qualifications in the labor market.

Corrected Earnings

Earnings that have been adjusted for factors such as inflation, accounting changes, or tax laws to provide a more accurate measure of real profitability.