When it is impossible to reorganize economic resources so that at least one person is better off while nobody is worse off,we have attained
A) allocative efficiency.
B) productive efficiency.
C) absolute advantage
D) comparative advantage.
E) a point outside the production possibilities curvE.

Question

Quizplus · Accepted Answer

Allocative efficiency is achieved when resources are allocated in a way that maximizes total societal satisfaction or welfare. This means that resources are being used in the most optimal way possible, and it is impossible to reallocate resources in a way that makes at least one person better off while not making anyone else worse off.

When It Is Impossible to Reorganize Economic Resources So That