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After an investigation into the automobile industry, we have concluded the marginal benefit of an additional car is $14,000, The marginal cost of producing an
After an investigation into the automobile industry, we have concluded the marginal benefit of an additional car is $14,000, The marginal cost of producing an additional car is $12,000. It was also discovered that producers are minimizing the average costs of production. We can conclude that Multiple Choice O production is not allocationly efficient but is productively efficient O production is both allocatingly and productively efficient O production is neither allocatingly nor productively efficient. O production is allocatingly efficient but not productively efficient
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