To achieve allocative efficiency,firms _____
A) strive to minimize their fixed costs.
B) strive to maximize their profits.
C) produce at their minimum long-run average cost.
D) produce at their minimum long-run marginal cost.
E) produce the output consumers value most.
Correct Answer:
Verified
Q165: In the short run,producers derive surplus from
Q166: The combination of producer and consumer surplus
Q167: Exhibit 8.13 Q168: Exhibit 8.13 Q169: Exhibit 8.13 Q171: We say that equilibrium in a perfectly Q172: If MC's Hammers,a perfectly competitive firm,finds that Q173: If,at the equilibrium quantity in a market,the Q174: Allocative efficiency occurs in markets when _ Q175: Exhibit 8.13 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)the
