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5 December, 11:10

Allocative efficiency occurs only at that output where

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  1. 5 December, 13:48
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    Answer: Allocative efficiency occurs in the market.

    Explanation:

    Allocative efficiency is a concept that measures the success of a market mechanism for supplying consumers with the goods needed in the desired quantities and quality. Ability implies that there is no way to change production and consumption to maximize one person's benefit, thereby diminishing the other person's utility. Efficiency is a condition in which the maximum amount of goods and service is extracted from the available resources.
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