_______________ is the point at which technical and allocative efficiency are achieved.

Question

Quizplus · Accepted Answer

Total productive efficiency is achieved when a firm produces at the lowest point on the production possibility frontier, where technical efficiency and allocative efficiency are both achieved. Technical efficiency means using the least amount of inputs to produce a given output, while allocative efficiency means producing the combination of goods and services that society values most. Therefore, choice C is the correct answer.

_______________ Is the Point at Which Technical and Allocative Efficiency