When does allocative efficiency occur?
a. allocative efficiency occurs when a good or servic...
Business, 15.11.2019 18:31 SoccerAllStar2
When does allocative efficiency occur?
a. allocative efficiency occurs when a good or service is produced at the lowest possible cost.
b. allocative efficiency occurs when an economy no longer relies on voluntary exchange.
c. allocative efficiency occurs when an economy achieves equity.
d. allocative efficiency occurs when production is in accordance with consumer preferences.
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If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided
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