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topjm [15]
3 years ago
14

Allocative efficiency occurs when the a. minimum of average total cost equals average revenueb. minimum of average total cost eq

uals marginal revenuec. marginal cost equals the marginal benefit to societyd. marginal revenue equals marginal benefit to society

Business
1 answer:
Usimov [2.4K]3 years ago
3 0

Answer: Allocative efficiency occurs when the<u><em> marginal cost equals the marginal benefit to society</em></u>

Allocative efficiency is a state of the economy in which production stand for individual preferences, every commodity or work is produced up to the state where the last part renders a marginal benefit to individual equal to the marginal cost of producing.

<u><em>Therefore the correct option is (c)</em></u>

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Answer: corporate social responsibility practice

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Hoochie [10]

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6 0
3 years ago
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ruslelena [56]

Answer:

The correct answer is option B.

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When there is an increase in the demand for the output of an industry, that industry will increase the production to match the increase in the demand. The increase in production will cause output level to increase.

In order to produce more output the industry will require more inputs, so the demand for inputs will increase.

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