Example: An economy could be productively efficient in producing large numbers of boots – but if they were all for the left foot, it would be allocatively inefficient as no one would benefit from these low production costs.
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macmacbenjoe
yes po and yan din po ang lumabas sa research
macmacbenjoe
These two conditions have important implications. First, resources are allocated to their best alternative use. Second, they provide the maximum satisfaction attainable by society.
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Answer:
Long-run equilibrium in perfectly competitive markets meets two important conditions: allocative efficiency and productive efficiency.
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Answer:
Example: An economy could be productively efficient in producing large numbers of boots – but if they were all for the left foot, it would be allocatively inefficient as no one would benefit from these low production costs.