Ask Question
19 June, 07:39

Allocative efficiency occurs when the a. minimum of average total cost equals average revenueb. minimum of average total cost equals marginal revenuec. marginal cost equals the marginal benefit to societyd. marginal revenue equals marginal benefit to society

+5
Answers (1)
  1. 19 June, 08:12
    0
    Answer: Allocative efficiency occurs when the marginal cost equals the marginal benefit to society

    Allocative efficiency is a state of the economy in which production stand for individual preferences, every commodity or work is produced up to the state where the last part renders a marginal benefit to individual equal to the marginal cost of producing.

    Therefore the correct option is (c)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Allocative efficiency occurs when the a. minimum of average total cost equals average revenueb. minimum of average total cost equals ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers