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The term allocative efficiency refers to a. the level of output that coincides with the intersection of the MC and AVC curves. b. minimization of the AFC in the production of any good. c. the

The term allocative efficiency refers to

a. the level of output that coincides with the intersection of the MC and AVC curves.

b. minimization of the AFC in the production of any good.

c. the production of the product mix most desired by consumers.

d. the production of a good at the lowest average total cost.

Apr 22 2021 View more View Less

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