When an economy achieves both allocative and productive efficiency, it implies that there is:

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Quizplus · Accepted Answer

When an economy achieves both allocative and productive efficiency, it means that resources are being allocated in the most efficient manner, and the economy is producing at the highest possible output. This implies full production. Income equality, price stability, and fixed technology are not necessarily related to allocative and productive efficiency.

When an Economy Achieves Both Allocative and Productive Efficiency, It