Allocative and productive efficiency are achieved under the market structure of:

Name: Allocative and productive efficiency are achieved under the market structure of:
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Question

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Allocative and productive efficiency are most likely to occur under perfect competition, which is characterized by a large number of small firms that lack market power and must accept the market price. In this market structure, resources are allocated efficiently, and firms produce at the lowest possible cost curve.

Allocative and Productive Efficiency Are Achieved Under the Market Structure