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Aliun [14]
3 years ago
15

​long-run equilibrium in perfectly competitive markets meets what two important conditions? productive efficiency allocative eff

iciency utility efficiency previousnext
Business
1 answer:
Inga [223]3 years ago
7 0
The two important conditions are: <span>allocative efficiency and productive efficiency.
Allocative efficiency refers to a condition when the amount of production is awlays match the appropriate marginal benefit that the consumers get.
Meanwhile, the productive efficiency refers to a condition when the market could no longer produce additional goods without sacrificing another good</span>
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