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13 April, 13:48

What is meant by allocative efficiency? allocative efficiency is when every good or service?

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  1. 13 April, 15:43
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    Allocative efficiency is the state of the economy in which production suits consumer needs and preferences. Every good or service produced holds value. Even the last unit is able to serve the customer and satisfy them, but the product must also maintain an equal balance between cost effectiveness and user satisfaction.
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