Business, 05.10.2019 06:00 ZaynabAta

When a competitive market achieves allocative efficiency, it implies that:

the quantity demanded is lower than the quantity supplied

the buyers are getting the maximum consumer surplus from the product

the marginal benefit of having the product is greater than the marginal cost

the combined consumer and producer surplus is maximized

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When a competitive market achieves allocative efficiency, it implies that:

the quantity...

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