please ans this

VE WRAP-UP To summarize what you have learned in the lesson, answer the following questions: 1. What is productive efficiency? allocation efficiency? 2. What is the impact of the perfectly competitive markets on society? POSTTEST Directions: Read each statement carefully. Write T if the statement is correct, otherwise write F. 1. Allocation efficiency means when the mix of goods being produced represents the mix that society most desires. 2. Productive efficiency given the available inputs and technology, it's impossible to produce more of one good without decreasing the quantity of another good that's produced. 3. Perfect competition creates equality of well-being for the citizens of a country. 4. Perfect competition guarantees that marginal cost will be maximzed. 5. The marginal cost of producing goods is exactly reflected in the prices charged for goods