If a market is allocatively efficient,_____
A) firms produce at the minimum point of their marginal cost curve.
B) firms produce at the minimum point of their total cost curve.
C) consumers minimize their expenditures.
D) total utility cannot be increased through a reallocation of resources.
E) total output cannot be decreased through a reallocation of resources.
Correct Answer:
Verified
Q158: Exhibit 8.11 Q159: Suppose a perfectly competitive,increasing-cost industry is in Q160: If an industry is a constant-cost industry,_ Q161: Which of the following is true of Q162: Exhibit 8.13 Q164: When market exchange occurs voluntarily in a 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 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
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