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In terms of the production possibilities curve allocative efficiency means that at any point in time: Multiple choice question. an ideal combination of production is
In terms of the production possibilities curve allocative efficiency means that at any point in time: Multiple choice question. an ideal combination of production is based on consumer preferences. consumer and producer preferences are equal. the price and the output are equal. an ideal combination of production is based on producer preferences
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
