Allocative efficiency is achieved when the production of a good occurs whereMultiple ChoiceP= minimum ATC.P= MC.P= minimum AVC.total revenue is equal to TFC.<

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Allocative efficiency is achieved when the production of a good occurs where Multiple Choice

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter13: Factor Markets: With Emphasis On The Labor Market

Section: Chapter Questions

Problem 4QP: Compare the firms least-cost rule with how buyers allocate their consumption dollars.

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Allocative efficiency is achieved when the production of a good occurs where
Multiple Choice
P= minimum ATC.
P= MC.
P= minimum AVC.
total revenue is equal to TFC.
<

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